The new income tax rules under the Income-tax Act, 2025, have come into effect from Wednesday, replacing those under the decades-old Income-tax Act, 1961. The move marks a major overhaul aimed at ...

With the Income Tax Act, 2025, taking effect from 1 April 2026, the I-T department clarified that TDS on interest will apply only above the set thresholds. The definition of “banking company” remains ...