Understand Income Tax Act 2025 in Hindi

Описание: Effective April 1, 2026, the new legislation and its accompanying Income-tax Rules, 2026 aim to simplify compliance by drastically reducing the number of tax sections and forms. Key updates include the transition to a unified "Tax Year" concept and the expansion of House Rent Allowance (HRA) benefits to additional major cities like Bengaluru and Hyderabad. The framework also tightens PAN requirements for high-value transactions and introduces specific regulations for virtual digital assets and digital economy nexus. Furthermore, taxpayers will see adjusted exemption thresholds for various allowances and revised filing deadlines for specific return types. Overall, the documents reflect a shift toward a digital-first, transparent administration designed to reduce litigation and modernize tax collection for a globalized economy.