The Income Tax Bill, 2025 was introduced in the Lok Sabha on February 13, 2025, with the purpose of replacing the old Income Tax Act of 1961. This new bill does not make major changes to tax rates or rules for individuals or companies. Instead, it focuses on making the law easier to read, understand, and follow. Most of the main rules, definitions, and tax structures from the 1961 Act are still in place. The government plans to start using the new law from April 1, 2026..