1. The Dinosaur is Dead
The Income-Tax Act, 1961 is finally retiring after 64 years. It had more dust than the Reserve Bank’s gold vaults. In comes the shinyIncome Tax Bill 2025— fewer sections, cleaner language, and maybe even fewer headaches (we’ll believe it when we see it).
2. Sections Got a Haircut
From819sections down to536. That’s like going from an Ekta Kapoor TV serial with 5000 episodes to a Netflix miniseries. Still long, but at least binge-watchable.
3. “Tax Year” – Because ‘Previous’ vs ‘Assessment’ Year Was Dumb
Finally, no more explaining to your uncle that FY 2026–27 is not the same as AY 2027–28. Now it’s just “Tax Year.” Even WhatsApp University can’t mess this up.
4. ₹12 Lakh = Zero Tax
Income up to ₹12 lakh? Pay nothing. This is like the govt saying, “We’re not raising prices — that’s your discount.” Inflation’s eating you alive, but hey, at least this is tax-free.
5. Section 87A Rebate = ₹60,000 Off
If you’re under
₹12 lakh income, you can reduce your tax by up to ₹60,000. Above ₹12 lakh? Sorry, rebate ghosted you.
6. Refund Even if You’re Late
Missed the deadline? No problem. You can still get your refund. It’s like Swiggy delivering even after the restaurant’s closed — unexpected, but welcome.
7. Nil TDS – Because Why Cut What You Don’t Need
Certain payments can now be received without tax deducted at source if you’ve got the right certificate. Translation: less paperwork, more money in your account.
8. Pension & Gratuity – Now Officially Deductible
Commuted pension (lump sum) and
