Active Income vs Passive Income Meaning, Tax Implications and Wealth Creation Strategy In personal finance and taxation, ...

The Income Tax Act, 2025, scheduled for April 1, 2026, aims to replace the outdated tax law and streamline tax compliance for ...

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.

With the discontinuance of the use of the term ‘assessment year’ in the Income-tax Bill, now the term ‘tax year’ will now be ...