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https://www.zeebiz.com/india/video-gallery-new-income-tax-act-april-1-simple-rules-389416

The Government of India has taken a major step towards simplifying direct taxation with the announcement of the New Income Tax Act, which will come into effect from April 1. Finance Minister Nirmala Sitharaman stated that the simplified income tax rules will be notified shortly, giving taxpayers sufficient time to understand and comply with the new framework. A key highlight of the reform is the redesign of Income Tax Return (ITR) forms, making them more user-friendly and easier for ordinary citizens to file without difficulty. The objective is to reduce compliance burden, enhance transparency, and minimize errors and disputes in tax filing. During her ninth Budget speech for FY 2025–26, the Finance Minister emphasized the need to review the Income Tax Act, 1961, to make it concise, clear, and easy to understand. The reform aims to lower compliance costs, improve efficiency in direct tax administration, and promote a trust-based tax system. Overall, the new Income Tax Act represents a shift towards simplicity, clarity, and taxpayer convenience, encouraging voluntary compliance and reducing litigation.

New Income Tax Act promotes trust-based and transparent taxation

<p>The Government of India has taken a major step towards simplifying direct taxation with the announcement of the New Income Tax Act, which will come into effect from April 1. Finance Minister Nirmala Sitharaman stated that the simplified income tax rules will be notified shortly, giving taxpayers sufficient time to understand and comply with the new framework. A key highlight of the reform is the redesign of Income Tax Return (ITR) forms, making them more user-friendly and easier for ordinary citizens to file without difficulty. The objective is to reduce compliance burden, enhance transparency, and minimize errors and disputes in tax filing. During her ninth Budget speech for FY 2025–26, the Finance Minister emphasized the need to review the Income Tax Act, 1961, to make it concise, clear, and easy to understand. The reform aims to lower compliance costs, improve efficiency in direct tax administration, and promote a trust-based tax system. Overall, the new Income Tax Act represents a shift towards simplicity, clarity, and taxpayer convenience, encouraging voluntary compliance and reducing litigation.</p>


New Income Tax Act promotes trust-based and transparent taxation

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