Diary Times

Union Budget 2026 : ‘Budget pushes Himachal into deeper financial turmoil’: Congress Deputy Chief Whip

Union Budget 2026 reflects PM Modi’s vision for a strong, self-reliant India: Shrey Awasthi

Union Budget 2026 : India’s defence budget rises sharply to Rs 7.84 lakh crore for 2026–27

Union Budget: Govt to set up three new All India Institutes of Ayurveda to boost research and global outreach

Union Budget 2026 : Three new All India Institutes of Ayurveda to be set up

Income tax law comes into force from April 1: FM Finance Minister Nirmala Sitharaman on Sunday said the Income Tax Act, 2025 would be implemented from April 1 and rules and tax returns forms would be notified shortly. Beginning April 1, the Income Tax Act, 2025, will come into force replacing the six-decade-old tax law and the changes made in tax laws in 2026-27 Budget will be incorporated in the new legislation. In her Budget speech in the Lok Sabha on Sunday, she said, “This (direct tax code) was completed in record time and the Income Tax Act 2025 will come into effect from first April 2026. The simplified income tax rules and forms will be notified shortly, giving adequate time to taxpayers to acquaint themselves with its requirements.” The forms had been redesigned, such that ordinary citizens could comply without difficulty, she added. The 2025 I-T law is revenue neutral with no change in tax rates. It has only made direct tax laws simple to understand and removed ambiguities, thereby reducing scope for litigations. It reduces text volume and sections by about 50 per cent vis-a-vis the 1961 Income Tax Act. The new law simplifies the tax timeline by doing away with the distinction between the assessment year and the previous year, replacing it with a single “tax year” framework. It also allows taxpayers to claim TDS refund even when ITRs are filed after deadlines, without any penal charges.

Union Budget 2026 : Income Tax Act, 2025 to take effect from April 1; simplified rules and forms soon: Finance Minister Nirmala Sitharaman

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National News

National News2 weeks ago

Mamata Banerjee confronts Delhi Police at Banga Bhawan, alleges harassment of Bengal families over SIR issue

West Bengal Chief Minister Mamata Banerjee on Monday confronted Delhi Police personnel deployed outside Banga Bhawan in Chanakyapuri, alleging that...

Union Budget 2026 : ‘Budget pushes Himachal into deeper financial turmoil’: Congress Deputy Chief Whip

Union Budget 2026 reflects PM Modi’s vision for a strong, self-reliant India: Shrey Awasthi

Union Budget 2026 : India’s defence budget rises sharply to Rs 7.84 lakh crore for 2026–27

Union Budget 2026 : Three new All India Institutes of Ayurveda to be set up

Union Budget 2026 : Income Tax Act, 2025 to take effect from April 1; simplified rules and forms soon: Finance Minister Nirmala Sitharaman

Ajit Pawar cremated with full state honours; Amit Shah, top leaders attend last rites

President Murmu confers Ashoka Chakra on space hero Shubhanshu Shukla

President Droupadi Murmu confers Ashoka Chakra on space hero Shubhanshu Shukla

National News4 weeks ago

Ahead of Assam Polls, Govt Disburses ₹5,000 Each to 6 Lakh Tea Garden Workers Under ‘Eti Koli Duti Paat’ Scheme

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Gold Rate

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Daily Horoscope8 months ago

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Politics

Politics11 months ago

BJP’s Trilok Jamwal Protecting Attackers: Bumber Thakur

Shimla, March 15: The attack on former Congress MLA Bumber Thakur from Bilaspur has heightened tensions in Himachal Pradesh politics. Thakur...

Shimla News11 months ago

Himachal Pradesh Assembly: Opposition Walks Out Over CM’s Response To Governor’s Address

Himachal Budget Session: Membership of CM's Wife Came Up Amidst Chaos During Question Hour on Fourth Day

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Politics11 months ago

Himachal Government Withdraws Decision of Claiming 30% from Magic Show Organiser Following Viral Backlash

Politics12 months ago

Congress Leaders Take Dip in Maha Kumbh, Why This Hypocrisy: Jairam Thakur

News1 year ago

Leader of Opposition and BJP leaders are constantly working to stop the help given by Center: Vikramaditya Singh

Politics1 year ago

Himachal government ignores Mahakumbh Yatra, Leader of Opposition Jairam Thakur expressed displeasure

Politics1 year ago

Agriculture Minister Chander Kumar raised questions on Congress organization

Politics1 year ago

Jairam Thakur: Bharatiya Janata Party will boycott MLA priority meeting to be held on February 3 and 4

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Daily Horoscope

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Health Ministry Issues Advisory Amid Rising COVID-19 Cases; Himachal Reports Just Two Active Infections

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