‘Tax Year’ Replacing ‘Assessment Year’ In New Income Tax Law From 1 April 2026: Will It Impact Your Taxes? EXPLAINED

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Jan 20, 2026 - 05:37
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‘Tax Year’ Replacing ‘Assessment Year’ In New Income Tax Law From 1 April 2026: Will It Impact Your Taxes? EXPLAINED
With the discontinuance of the use of the term ‘assessment year’ in the Income-tax Bill, now the term ‘tax year’ will now be used in relation to the rate or rates of income-tax also.