CBDT holds outreach webinar on new Income-tax Act 2025 and new Income-tax Rules 2026

According to the Ministry of Finance, the virtual event focused on the structural shifts brought by the new Income-tax Act, 2025 and the accompanying new Income-tax Rules, 2026.

The session drew substantial international interest, registering more than 1,100 participants from 16 overseas jurisdictions, including the United States, the United Kingdom, Australia, China, Singapore, Japan, and the United Arab Emirates.

Senior officials from the Income Tax Department and partners from PwC India structured the dialogue around cross-border taxation and compliance mechanisms. The official delegation included Monica Bhatia, Principal Chief Commissioner of Income Tax (International Taxation), Raman Chopra, Chief Commissioner of Income Tax (International Taxation), and Anjula Jain, Commissioner of Income Tax (International Taxation)-2, New Delhi.

Addressing the participants, Monica Bhatia, highlighted the collective efforts of the Department and stakeholders which ensured the smooth transition to the new Income-tax Act, 2025. She also elaborated upon the growing importance of cross-border transfer pricing mechanisms, international cooperation, and India's expanding role in the global taxation ecosystem.

Further, she spoke about the "success and relevance of Advance Pricing Agreements and emphasized the importance of Safe Harbour provisions in ensuring certainty and ease of compliance for taxpayers."

A presentation was also made on the key changes, structural reforms, and comparative aspects of the Income-tax Act, 1961 vis-a-vis the Income-tax Act, 2025, including newly introduced rules, forms and procedural updates.

The participants posed numerous queries during the interactive session, which were responded to by the senior officers of the Income Tax Department. The various participants appreciated the initiative, and expected to have more such engagements with the Department. (ANI)