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Informist, Monday, Dec. 8, 2025

NEW DELHI – Committee formed under the Central Board of Direct Taxes for simplification of income tax returns is carrying out extensive consultations with tax experts, institutional bodies, and field formations of the tax department to roll out new forms linked to the Income Tax Act, 2025, Minister of State for Finance Pankaj Chaudhary said Monday. 

The Income Tax Act, 2025, will take effect on Apr. 1 and the forms for filing tax returns under the new act will be notified by Mar. 30, 2027, Chaudhary said in a written response to the Lok Sabha. 

The new act, first announced in the full Budget for 2024-25 (Apr-Mar) as a bill, was passed to simplify the Income Tax Act, 1961, to make it easier for taxpayers to calculate their tax dues and file returns. The 2025 act was passed in August this year. New forms and processes need to  be put in place corresponding to the new act. 

CBDT Chairman Ravi Agrawal had said on Nov. 17 that the government was working on the new rules and forms and these were expected to be notified by January 2026. "So we are working towards putting this in place by January so that taxpayers have sufficient time to adapt their processes within their system. Intent is how to make it simple for taxpayers because form is the first interface through which compliance is there," Agrawal had said.  End

Reported by Priyasmita Dutta

Edited by Akul Nishant Akhoury

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