New Income Tax Act 2025: CBDT has recently given a big update regarding the new Income Tax Act. According to this update, new rules and regulations will be issued at the end of this year. Let us know what major changes will happen after the implementation of the new rules.
While talking to the media recently, RN Parbat, member of the Central Board of Direct Taxes (CBDT), said that the rules and guidelines related to the new Income Tax Act 2025 will be issued by December 31 this year.
This means that taxpayers will soon be able to understand all the important information and rules related to tax under the new law. This update regarding the new rules is indicating to simplify the tax system for taxpayers.
Provisions related to security of digital data
Taxpayers often worry about the security of digital information, but CBDT has made it absolutely clear that the new rules will take full care of data privacy. CBDT member said that the old Income Tax Act also had provisions related to the security of digital data, and now these will be written in even clearer words. These provisions will be applicable whenever the tax department has to conduct a search, seizure or survey.
New FAQs and SOPs will be created
The CBDT department is preparing frequently asked questions (FAQs) and standard operating procedures (SOPs) regarding the new Income Tax Act. Its purpose is to help taxpayers understand the new rules and simplify the everyday tax process. This notice guidelines will also explain the difference between the old tax rules and the new rules, so that there is no confusion. The SOP will also describe in detail how to handle digital data.
Return filing method will be even easier
The CBDT member said that next year i.e. for the financial year 2025-26, the returns will be filed as per the old rules. The rules of the new Income Tax Act will come into force from the financial year 2026-27. He also said that the department now wants to make such forms which are more smart, so that taxpayers can have ease in tax filing. Also, the language of the form will be simple and uniform, so that taxpayers do not have any confusion. CBDT also said that they are working on such technology and team, which will make tax filing even simpler and convenient for taxpayers.
