New Delhi, March 31 -- The new Income-tax Act, 2025, set to come into effect from April 1, 2026, marks a comprehensive overhaul of India's six-decade-old tax framework, with a focus on simplifying compliance, enhancing transparency, and rationalising exemptions for salaried taxpayers.

While tax slabs and rates remain unchanged, the new regime significantly alters the way income, deductions, and disclosures are reported and verified, shifting emphasis towards more accurate and detailed reporting.

Multiple income tax exemption limits are set to be increased under the new rules, particularly benefiting individuals opting for the old tax regime.

One of the key changes pertains to House Rent Allowance (HRA). Currently, taxpayers residing in...