ITR forms, rules under new Income Tax Act to be notified by January: CBDT chief
The Central Board of Direct Taxes (CBDT) chief announced on November 17, 2025, that ITR forms and rules for the new Income Tax Act, 2025, replacing the six-decade-old 1961 Act, will be notified by January 2026. This new Act, effective April 1, 2026, aims to simplify tax laws and ease compliance for taxpayers, ensuring straightforward forms. The legislation significantly reduces sections and word count without imposing new tax rates, providing taxpayers ample time to adapt.