Income Tax Department launches Act 2025 awareness program in Mumbai
The Income Tax Department just rolled out an awareness program on the Income Tax Act, 2025 at a big event in Mumbai, as part of the Prarambh 2026 campaign.
The law has actually been in effect since April 1, 2026, but this event brought together more than 700 attendees, including chartered accountants, tax professionals, industry representatives, corporate executives and taxpayers to walk through what's new and how it all works.
Alok Kumar: allowance increases, proposed Form130
Principal Chief Commissioner Alok Kumar shared that the new Act aims to make tax rules clearer and easier to follow.
Some allowances have seen major hikes: education allowance jumps from ₹100 to ₹3,000 per month per child, hostel allowance goes from ₹300 to ₹9,000, meal exemptions rise from ₹50 to ₹200 per meal, and employer gift exemption is proposed to increase from ₹5,000 annually to ₹15,000 per year.
Plus, Form 16 is proposed to be replaced by Form 130 for more accurate digital reporting, so filing should be less of a headache.