New Delhi, Feb. 1 -- Finance Minister Nirmala Sitharaman on Sunday, February 1, said that Income Tax Act, 2025, to be implemented from April 1.

The minister said that the target for capex will be raised to Rs 12.2 lakh crore for FY27 from Rs 11.2 lakh crore earmarked for the current fiscal year and announced a slew of measures to boost infrastructure in the country.

Live updates:

12:04 pm: Tax Collected at Source (TCS) rate on sale of overseas tour packages cut to 2 pc from 5 pc and 20 pc earlier: FM.

12:03 pm: FM proposes to increase time limit for filing revised I-T return from December 31 to March 31, on payment of nominal fee.

12:00 noon: Income Tax Act, 2025, to be implemented from April 1; rules and tax returns forms to be noti...