Updated On: 01 February, 2026 03:24 PM IST | New Delhi | mid-day online correspondent
Sitharaman said the new law will replace the six-decade-old Income Tax Act of 1961, with all changes announced in the current Budget being incorporated into the fresh legislation

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Finance Minister Nirmala Sitharaman on Sunday announced that the Income Tax Act, 2025 will come into force from April 1, marking a major overhaul of India’s direct tax framework. She said the accompanying rules and redesigned income tax return (ITR) forms will be notified shortly to give taxpayers adequate time to familiarise themselves with the new system.