The draft rules for the new Income Tax Act, Know the details
The Income Tax Department has released the draft rules for the new Income Tax Act: The Income Tax Department has released the draft Income Tax Rules, 2026. These rules provide details of the new Income Tax Act, 2025, which is scheduled to come into effect on April 1st of this year. Finance Minister Nirmala Sitharaman announced the new Act in the Union Budget 2026 on February 1st. This Act will replace the Income Tax Act, 1961.
Comments on the rules can be submitted until February 22nd: The new Income Tax Act outlines the tax-related laws, while the rules specify how taxpayers, professionals, and authorities will implement them. Feedback on this draft can be submitted until February 22, 2026. The government has already clarified that the focus of the new Income Tax Act is on simplifying the language of tax-related rules and regulations. It does not introduce fundamental changes to the tax rules themselves.
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