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Section 393 of the Income Tax Act 2025 introduces a unified framework for Tax Deducted at Source (TDS) in India. It will come into effect from April 1, 2026 and will apply from the Tax Year 2026–27 onward. The new provision replaces multiple TDS sections that were earlier spread across different parts of the Income Tax Act, 1961. Under the earlier law, TDS rules were divided across various sections based on the nature of payment, such as rent, professional fees, interest, and

India’s direct tax system is set to undergo a significant transition with the introduction of the Direct Tax Code (DTC) 2025, which is expected to replace the Income Tax Act, 1961, from April 2026. The new framework is designed to simplify tax laws, improve transparency, and align the system with current economic and digital practices. Over the years, the existing tax law has become complex due to multiple amendments, overlapping provisions, and detailed cross-referencing. Th

The Income Tax Act 2025 introduces a new approach to defining tax periods in India by replacing the earlier system of Financial Year and Assessment Year with a single concept known as the Tax Year. This change will come into effect from April 1, 2026, and will apply to income earned from that date onward. Under the earlier framework, taxpayers were required to understand two separate timelines. The Financial Year referred to the period in which income was earned, while the As

Income tax slabs define the rate at which an individual’s income is taxed in India. For the financial year 2025-26, taxpayers have the option to choose between two tax regimes: the new tax regime and the old tax regime. Each regime follows a different approach to taxation, which directly affects the final tax payable. The new tax regime continues as the default system. It offers lower tax rates across income levels but removes most exemptions and deductions that were traditio

The Income Tax Act 2025 introduces a revised framework for direct taxation in India, replacing the earlier Income Tax Act, 1961, from April 1, 2026. The new law focuses on simplifying the structure of tax provisions, improving clarity, and making the overall system easier to understand for taxpayers and professionals. Over time, the earlier law became complex due to multiple amendments and scattered provisions. Many sections were difficult to interpret, and similar rules were

The Income Tax Act 2025 replaces the Income Tax Act, 1961 and will apply from April 1, 2026. It introduces a revised framework for the levy, administration, and collection of direct taxes in India. The primary focus of the new law is to simplify the structure of tax provisions, improve clarity, and make compliance easier for taxpayers. Over time, the earlier law became complex due to frequent amendments, overlapping provisions, and technical drafting. This made it difficult f

The Income Tax Act 2025 introduces a revised framework for direct taxation in India, effective from April 1, 2026. The new law replaces the Income Tax Act, 1961 and applies from the Tax Year 2026–27 onward. It focuses on simplifying the structure of tax provisions, improving clarity, and making compliance easier for taxpayers. Over time, the earlier law became complex due to multiple amendments, scattered provisions, and technical language. The new Act addresses these issues

Many taxpayers believe that filing an income tax return is the only requirement for staying compliant. However, tax compliance under the Income Tax Act, 1961, involves multiple ongoing responsibilities beyond annual filing. Activities such as TDS deduction, advance tax payments, proper reporting of financial transactions, and maintaining accurate records are equally important. Ignoring these aspects can lead to penalties, notices, and financial mismatches. Platforms like TaxB

Filing an income tax return is often treated as a deadline-driven task, but many errors and compliance issues arise due to rushed submissions without proper planning. A tax call, on the other hand, helps evaluate income sources, deductions, and reporting requirements before filing. This approach reduces the risk of notices, penalties, and mismatches under the Income Tax Act, 1961. TaxBuddy enables this shift by combining expert consultations with digital tools, ensuring that

Small businesses in India need more than basic tax filing support. They must manage accounting, GST returns, TDS deductions, compliance deadlines, and business documentation while staying aligned with the Income Tax Act, 1961 and related laws. TaxBuddy helps simplify this by combining bookkeeping, GST workflows, TDS support, and compliance tracking into one platform. Instead of handling separate tasks across multiple systems, small businesses can manage day-to-day financial c