New Delhi, Feb. 1 -- Finance Minister Nirmala Sitharaman on Sunday announced during her Budget 2026 presentation that the Income Tax Act, 2025, will be implemented from 1 April 2026, and all rules and tax return forms will be notified later. The Income Tax Act, 2025 will replace the six-decade-old tax law and the changes made in tax laws in 2026-27 Budget will be incorporated in the new legislation.

The finance minister has not announced any change in income tax slabs for the coming year.

Last year, the finance minister had announced major tax reforms. However, this year, the government has kept the tax slabs unchanged. The existing tax slabs will continue to apply for FY2026-2027, which means that the government has not changed the inc...