New income tax act will be effective from April 1
Feb 01, 2026
12:06 pm
What's the story
Finance Minister Nirmala Sitharaman has said that the new Income Tax act will come into effect in India from April 1, 2026. She made the announcement while presenting the Union Budget 2026. Sitharaman also proposed to lower TCS rates for education and medical purposes from the current 5% to 2%.