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<\/i> Income tax <\/a> Goodbye 1961, Hello 2025: India's New Income Tax Act Explained in Simple Terms <\/h1> <\/div>
This blog post details India's landmark decision to replace the sixty-year-old Income-tax Act, 1961, with the new, simplified Income-tax Act, 2025, which will be effective from April 1, 2026. It breaks down the key changes in simple terms, explaining the reduction in legal complexity, the introduction of a unified \"Tax Year,\" clearer definitions for digital assets, and the move towards faceless, technology-driven tax processes. The post highlights how these changes aim to create a more transparent, efficient, and taxpayer-friendly direct tax system for individuals and businesses across the country. <\/p>
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<\/div> Krishna Gopal Varshney <\/a>
An editor at Myitronline<\/p> <\/div>

Aug 23, 2025<\/li>
5 min read<\/li>
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This blog post details India's landmark decision to replace the sixty-year-old Income-tax Act, 1961, with the new, simplified Income-tax Act, 2025, which will be effective from April 1, 2026. It breaks down the key changes in simple terms, explaining the reduction in legal complexity, the introduction of a unified \"Tax Year,\" clearer definitions for digital assets, and the move towards faceless, technology-driven tax processes. The post highlights how these changes aim to create a more transparent, efficient, and taxpayer-friendly direct tax system for individuals and businesses across the country.

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Krishna Gopal Varshney <\/a><\/h4> An editor at Myitronlinenews<\/small> <\/div> View Articles<\/a> <\/div>
Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business\/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates. <\/p> <\/div> <\/div>

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