Income Tax Act 2025: Key Highlights, Applicability & PDF

  The much-anticipated Income Tax Act 2025 was introduced in Parliament on February 13, 2025. This new tax law aims to modernize India's taxation system, simplify compliance, and introduce structural reforms. The bill is under review by a dedicated committee, which will submit its report by the first day of the Monsoon Session. Below is a detailed analysis of the Income Tax Act 2025 , including its key highlights, changes, and applicability. Introduction to the Income Tax Act 2025 The draft of the Income Tax Act 2025 is now available for public review, offering taxpayers and professionals an insight into its provisions. Earlier, there was speculation that it would be called the Direct Tax Code, but it has officially been named the Income Tax Act 2025 . This law is set to bring major reforms to India’s tax structure. Implementation Date of the Income Tax Act 2025 A crucial aspect for taxpayers and students is the applicability date of the Income Tax Act 2025 . The new tax law wil...