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New income-tax rules to be notified by Dec-end, simplified forms for assessees in works: Official
Millennium Post Kolkata
|Kolkata 26August2025
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
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NEW DELHI:
CBDT member (Legislation) RN Parbat also said the department will come out with a fresh set of FAQs on the new Income Tax Act and come out with SoPs and guidance notes.
President Droupadi Murmu, on August 21, gave her assent to the Income-tax Act, 2025, which will replace the archaic Income Tax Act, 1961. The law was passed by Parliament on August 12.
This story is from the Kolkata 26August2025 edition of Millennium Post Kolkata.
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