Income Tax Act 2025: Old refund claims and pending assessments won't end with the new law — what changed from April 2026
Mint 1 hr ago·22 Oct 2026, 7:55 am
The new Income Tax Act, 2025, replaces the 1961 law starting April 1, 2026. However, this shift does not erase existing tax liabilities or pending refunds. The government has clarified that all outstanding assessments, pending refunds, and other matters from the previous law will continue under the old rules until they are fully resolved. This means taxpayers will not face a sudden cutoff for old cases, and the transition period will allow for the orderly winding down of these matters.
For investors, this development is important because it ensures continuity in the tax administration process. It prevents the abrupt disruption of ongoing tax proceedings or the freezing of pending refunds. The move aims to provide stability for taxpayers during the regulatory change. Investors should watch for official government notifications and clarifications regarding the specific procedures for finalizing these pending cases under the new framework.
Excerpt from Mint
The Income Tax Act, 2025, replaced the 1961 law on April 1, 2026, but outstanding tax dues, pending refunds, and earlier assessments do not automatically disappear. Here's how both laws will operate during the transition and what taxpayers need to know. The Income Tax Act, 2025, came into effect on April 1, 2026,…Read the original at Mint
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