New Tax Amendments 2025. Unless extended by congress, the provisions will revert automatically on january 1, 2026, to the rules in effect for 2017. Significant updates to the new tax regime were introduced in budget 2023, with changes to the income tax slabs applicable for the current financial year from april 1, 2023, to march 31, 2024.
The bill would, beginning in the 2025 tax year, exempt the first 10% of a. Starting 1 st april 2023, the new income tax regime will become the default tax regime.