President Murmu Approves New Income Tax Act 2025
President Droupadi Murmu has approved the Income-tax Act, 2025, set to replace the outdated 1961 law. Taking effect from April 1, 2026, the new legislation aims to simplify tax norms, reduce legal jargon, and enhance clarity for taxpayers. It marks a major overhaul in India's direct taxation framework for the modern era.