New Delhi, Aug. 22 -- The Income Tax Act, 2025, replacing the 1961 law was notified by the Centre on Friday, August 22, in its Official Gazette. This comes a day after President Droupadi Murmu gave assent to the Act.

The Income Tax handle on X notified about the landmark development.

"The Income-tax Act, 2025 has received the Hon'ble President's assent on 21st Aug 2025. A landmark reform replacing the 1961 Act, it ushers in a simpler, transparent & compliance-friendly direct tax regime," said Income Tax India on X.

The new laws under Income Tax Act, 2025, will come into effect from April 1, 2026.

(This is a developing story. Check back for updates)

Published by HT Digital Content Services with permission from MINT....