The deadline for filing income tax returns for assessment year 2025-26 was extended to September 15, 2025. Many taxpayers are still waiting for refunds. Here's why it may be delayed and what happens ...
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‘Tax year’ replacing ‘assessment year’ in new income tax law from 1 April 2026: Will it impact your taxes? Explained
New Delhi: The new income tax law, coming into effect from 1 April 2026 will see several changes -- one being replacement of terms 'Previous Year’ and ‘Assessment Year' with Tax Year. A ‘tax year’ is ...
The new Income-tax Act, 2025 replaces the 1961 law and introduces structural changes such as a single “Tax Year.” Key updates include revised return deadlines, higher STT, and new rules for buybacks ...
The new legislation reorganizes provisions related to return processing, scrutiny assessments, and reassessment of escaped income. It simplifies drafting while largely retaining the existing ...
Tax season opened this year on January 26, 2026, and the IRS expects to process more than 164 million individual tax returns for the 2025 tax year. But not everyone is rushing to file, and not ...
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