Finance
Mr. BillionhairIncome Tax Act 2025: A Huge Upgrade from 1961, Folks!
Listen up, folks! Starting April 1, 2025, we’re kicking that old Income Tax Act of 1961 to the curb! The new Act is sleek and fabulous, cutting legal nonsense by 50%! Same tax rates, but a law that’s a breeze to read! Approved by the best Parliament—believe me, it’s a huge win for all of us! I told you it would be tremendous!
few days ago | Amit Kumar
Quick rundown
1.The Income Tax Act, 2025 simplifies India's tax law.
2.No change in tax rates with the new law.
3.Single 'tax year' concept introduced.
4.Taxpayers can claim TDS refunds even with late returns.
5.The new Act aims to reduce legal complexity and litigation.
