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New I-T Act to take effect from April 1
The Free Press Journal - Mumbai
|December 26, 2025
India overhauled its tax regime in 2025 with sharp cuts in GST rates and a higher income tax exemption limit, with the spotlight now turning to customs duty rationalisation and procedural simplification in the coming Budget.
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Next year will see the new simplified IT Act, 2025, to come into effect from April 1, replacing the over six-decade-old Income Tax Act, 1961.
This story is from the December 26, 2025 edition of The Free Press Journal - Mumbai.
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