Important Things You Should Know About The Income-Tax Act, 2025 A plain-language guide for salaried people, professionals, and businesses Quick snapshot Act 30 of 2025 received Presidential assent on 21 August 2025 and came into force on 1 April 2026. It replaces the Income-tax Act, 1961 for income of Tax Year 2026–27 onwards. Structure: 23 chapters, 536 sections, 16 schedules. Policy rates were not rewritten by the Act itself — the rewrite is about simpler language, fewer se