ECONOMY · 15 April 2026
New Income Tax Framework + PRARAMBH
New Income Tax Framework + PRARAMBH. Launched by FM Nirmala Sitharaman, replacing the Income Tax Act, 1961. Cut sections from 819 to 536 and introduced a 'tax year' concept.
KEY POINTS
- Launched by FM Nirmala Sitharaman, replacing the Income Tax Act, 1961.
- Cut sections from 819 to 536 and introduced a 'tax year' concept.
Source: DAKSH Current Affairs May 2026