India: FAQs on transition to Income-tax Act 2025
Income-tax-Act 2025 scheduled to become effective April 1, 2026
The Central Board of Direct Taxes (CBDT) released frequently asked questions (FAQs) regarding the transition from Income-tax Act, 1961 to Income-tax Act, 2025, which is scheduled to become effective April 1, 2026.
The FAQs are organized into 10 critical thematic areas:
- General philosophy underlying the transition
- Tax payments, collection, and refunds
- Tax returns
- Statutory forms and procedural requirements
- Reassessment proceedings
- Withholding tax (or “tax deducted at source” (TDS)) compliances
- Appeals, revision, and alternative dispute resolution mechanisms
- Set-off and carry forward of losses and deductions
- Nonresident-related provisions
- Other miscellaneous transitional issues
Read a March 2026 report prepared by the KPMG member firm in India