Reason why the 2025 tax law does not impact current ITR filings
Even though the Income-tax Act, 2025 is set to begin on April 1, 2026, individuals filing their returns this year must still adhere to the Income-tax Act, 1961. This is due to the fact that the reported income was generated prior to the implementation of the new legislation. Consequently, all tax obligations, as well as available deductions and exemptions, remain subject to the previous regulations.
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