• Thu. Mar 19th, 2026
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    Tag: Union Budget 2026

    New Income Tax Act, 2025 to Replace 1961 Law from April 1, 2026: FM Sitharaman Announces Major Tax Reform
    New Income Tax Act, 2025 to Replace 1961 Law from April 1, 2026: FM Sitharaman Announces Major Tax Reform
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    New Income Tax Act, 2025 to Replace 1961 Law from April 1, 2026: FM Sitharaman Announces Major Tax Reform

    Finance Minister Nirmala Sitharaman announced that the new Income Tax Act, 2025 will come into force from April 1, 2026, replacing the six-decade-old 1961 tax law. The new law aims to simplify compliance, reduce litigation, and make tax rules easier for ordinary taxpayers.

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    Budget 2026 Expectations: Insurers Seek Higher Tax Deductions and GST Reforms
    Budget 2026 Expectations: Insurers Seek Higher Tax Deductions and GST Reforms
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    Budget 2026 Expectations: Insurers Seek Higher Tax Deductions and GST Reforms

    As Union Budget 2026 nears, India’s insurance industry seeks major fiscal and regulatory reforms to boost penetration. Key demands include higher tax deductions, health and life benefits under the new tax regime, and GST ITC clarity to cut costs.

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