WONE Global's guide to India records these changes under tax and reporting. Each statement below has been checked against the source it links to.
The Income-tax Act, 2025 came into force on 1 April 2026, replacing the Income-tax Act, 1961.
Central tax. The Act received presidential assent on 21 August 2025.
Income Tax Department, Central Board of Direct Taxes · Press release: Income-tax Act, 2025 comes into force from 01 April 2026 ↗ Checked against an official source · Not yet professionally reviewed · checked 18 October 2026
The Central Board of Direct Taxes notified the Income-tax Rules, 2026 and new forms on 20 March 2026 to operationalise the Income-tax Act, 2025.
Central tax.
Income Tax Department, Central Board of Direct Taxes · Press release: Income-tax Act, 2025 comes into force from 01 April 2026 ↗ Checked against an official source · Not yet professionally reviewed · checked 18 October 2026
From 1 April 2026 the minimum alternate tax rate is 14%, and for companies that remain in the older regime it operates as a final tax with no new credit accruing.
Concessional 9% rate continues for eligible IFSC units. Central tax.
PwC Worldwide Tax Summaries · India – Corporate – Taxes on corporate income ↗ Checked against a secondary source · Not yet professionally reviewed · checked 18 October 2026
Under section 6 of the Income-tax Act, 2025 a company is resident in India if it is an Indian company or its place of effective management in the year is in India.
Central tax.
Income Tax Department · Income-tax Act, 2025 – Section 6: Residence in India ↗ Checked against an official source · Not yet professionally reviewed · checked 18 October 2026
The Income-tax Act, 2025 replaces the previous year and assessment year with a single tax year and applies from tax year 2026/27, while the 1961 Act continues to govern assessments for earlier years and carried-forward losses, unabsorbed depreciation and tax credits are preserved.
Central tax.
PwC Worldwide Tax Summaries · India – Corporate – Significant developments ↗ Checked against a secondary source · Not yet professionally reviewed · checked 18 October 2026
This is a summary of the rule as published, not advice on how it applies to you. The WONE Global Partner for this service in India can advise on that.











