September 8, 2025 5:24 PM
Modernising Tax- Bringing simplicity, transparency, and digital Readiness
The government has enacted the Income Tax Act, 2025, bringing in a major overhaul of the country’s direct tax regime aimed at making it more transparent, efficient and equitable. Officials said the reform is designed to simplify compliance, promote growth and strengthen institutional accountability. The new Act, effective from April 1, 2026, replaces the Income-tax Act of 1961 and resolves decades of complexity that burdened both taxpayers and administrators. Its passage followed a rigorous p...