New Income Tax Act 2025: Simplifying Compliance

The introduction of the streamlined Income Tax Act, 2025 is expected to significantly enhance voluntary tax compliance, according to a senior revenue department official.

Vikram Sahay, Chief Commissioner of Income Tax-3, Mumbai, articulated at a recent event that simplifying the Act makes it more accessible, thereby encouraging compliance. The well-structured and contemporary new Act aims to lower compliance costs.

An extensive outreach program has been launched for stakeholders, including taxpayers and trade bodies, to familiarize them with the new provisions and their advantages over the outdated Act from six decades ago.