Centre Publishes Income Tax Act 2025 In Official Gazette After Presidential Assent

The Centre has published the "Income Tax Act 2025 in the official gazette" after presidential assent. This marks a significant milestone in India's tax reform journey. The new legislation, which aims to simplify the tax code and reduce compliance burdens, will have a profound impact on taxpayers and businesses alike. The new law will introduce new rules for block assessments in search cases, and it will also clarify the standard deduction under the new tax regime.