India's new Income Tax Act: What you need to know
India is rolling out a brand-new Income Tax Act from April 2026, aiming to make taxes simpler and less stressful.
The updated law trims the legal jargon, introduces digital upgrades, and even covers crypto—making tax season a bit less daunting for everyone.
Simpler rules, fewer headaches
The act slashes the number of sections from 819 to 536 and reduces chapters from 47 to 23.
It's also way shorter—down from over five lakh words to about 2.6 lakh—which means less reading and easier understanding for taxpayers.
Fresh tax year & crypto in the spotlight
A single "Tax Year" (April-March) replaces confusing old terms.
Plus, cryptocurrencies are officially recognized as taxable virtual digital assets now, so your Bitcoin gains are on the radar.
Digital-first approach & more savings
Expect faceless assessments, faster refunds and digital compliance, and redesigned ITR forms for smoother filing.
Sections like 80C get new numbers for easier navigation.
And if your income is up to ₹12 lakh from FY 2025-26 onwards? You're effectively tax-free thanks to updated rebates.