FY27 set to begin with new Income Tax law, revised filing deadlines

IANS | March 31, 2026 10:13 AM

New Delhi, March 31 (IANS) As India approaches the new fiscal year FY27, the country’s direct tax system is set for a major overhaul from April 1, 2026, with the new Income Tax Act, 2025, coming into force -- replacing the six-decade-old 1961 legislation and introducing changes in compliance, terminology and taxation.