ITR forms, rules under new Income Tax Act to be notified by January: CBDT chief

The I-T Department will by January notify the income tax return (ITR) forms and rules under the simplified Income Tax Act, 2025, which will come into effect from next fiscal beginning April 1, Central Board of Direct Taxes (CBDT) chief Ravi Agrawal said on Monday.

The intent of the department is to keep the I-T Return forms simple to ease compliance under the new law, which replaces the six-decade old Income Tax Act, 1961, he said.

“We are in the process of designing forms and rules. We are working towards putting this in place by January so that taxpayers have sufficient time to adapt their processes within their system,” Agrawal told reporters after launching Taxpayers’ Lounge at India International Trade Fair (IITF).

The intent is to keep the ITR forms simple for taxpayers to ease co