NEW DELHI, March 20 -- Central Board of Direct Taxes on Friday notified the rules for Income-tax Act, 2025 which provided enhanced tax benefit for HRA to salary earner but makes disclosure of landlord-tenant relationship mandatory.
The Income-tax Rules, 2026 will operationalise the simplified direct tax legislation that was approved by Parliament last year and will come into effect from April 1.
"These rules may be called the Income-tax Rules, 2026. They shall come into force on the April 1, 2026," a gazette notification said.
Parliament on August 12, 2025 passed a new Income Tax Bill to replace the six-decade-old Income Tax Act, 1961. It does not impose any new tax rate and only simplified the language, which was required for understand...