New Delhi, Feb 1: Presenting the Union Budget-2026-27, Finance Minister Nirmala Sitharaman on Sunday said the Income Tax Act, 2025 will be implemented from April 1.

She said rules and tax returns forms will be notified shortly.

Beginning April 1, the Income Tax Act, 2025, will come into force replacing the six-decade-old tax law and the changes made in tax laws in 2026-27 Budget will be incorporated in the new legislation.

She said, "This (direct tax code) was completed in record time and the Income Tax Act 2025 will come into effect from first April 2026. The simplified income tax rules and forms will be notified shortly, giving adequate time to taxpayers to acquaint themselves with its requirements."