Income-tax Act, 2025 Explained | Key Features, Tax Year & Major Changes | Samvaad Series

In this special inaugural episode of the Samvaad Series – Ms.Ritu Singh Sharma, Additional Director General, Directorate of Public Relations, Publications and Publicity, CBDT, New Delhi, interacts with Shri Ashok Kumar Jha, Chief Commissioner of Income Tax (Retd.), to discuss the key features, applicability, and rationale behind the newly enacted Income-tax Act, 2025. The Income-tax Act, 2025, passed by Parliament, represents a historic reform aimed at simplifying, modernising, and consolidating India’s direct tax framework. The new Act will come into effect from 1st April 2026 and will apply from Tax Year 2026–27 onwards. Key aspects covered in this video: • Journey from Income Tax Act, 1961 to Income-tax Act, 2025 • Key simplification measures including reduction in sections and word count • Introduction of the concept of “Tax Year” • Consolidation of TDS/TCS provisions and structural reorganisation • Simplification of salary provisions and exemptions • Transition framework including Repeals and Savings provisions The new Act is designed to provide clarity, reduce complexity, and create a more taxpayer-friendly and technology-driven compliance ecosystem, aligned with the vision of Viksit Bharat 2047. #IncomeTaxAct2025 #CBDT #TaxReforms #IncomeTax #Samvaad