New Delhi: Many taxpayers are feeling the pressure to file their income tax returns on time with just seven days left before the December 31 deadline. Adding to the stress, the Income Tax Department ...

In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced a three-month extension for filing belated and revised Income Tax Returns (ITRs) in the Union Budget 2026.

The Union Budget 2026-27 has brought significant updates for taxpayers, with Finance Minister Nirmala Sitharaman announcing the implementation of a new Income Tax Act from April 1, 2026. Along with a ...

The Income-tax Act, 2025 replaces the 1961 law from April 2026 with simplified rules, redesigned forms, and automated compliance, marking a structural reset of India’s tax ...

As many as 88 per cent of individual taxpayers have moved to the new tax regime and the government is not thinking of ...

The old tax regime refers to the income tax calculation and slabs that existed before the introduction of the new tax regime in 2020. Old tax regime has higher tax rates, but taxpayers get exemptions.

A significant 88% of individual taxpayers have embraced the new income tax regime, with presumptive tax cases seeing a 97% ...

CBDT chief reveals 88% of individual taxpayers chose the new tax regime. No sunset clause for the old regime is planned.