New Income Tax Act's rules and regulations coming by December 31, CBDT member says

New Income Tax Act 2025: Central Board of Direct Taxes’ (CBDT) member (legislation) RN Parbat recently said in a media interview that the board will come out with a new set of rules and regulations by December 31. He also assured that honest taxpayers did not have to worry about digital information, as the privacy of the data would be followed. He further mentioned in the interview that the department is formulating FAQs and SOPs for the new Income Tax Act. He remembers us that the department came out with a FAQ when the Finance Act was tabled 2025. The same was done when the Income Tax Bill (IT) was established. He mentioned that there will be an information guide that will map the old terms with the new and go into SOPs. Access to digital information, while concerned about the provisions that enable access to digital information, he explained that even the old law has these provisions. “We have just written it in clearer conditions. Secondly, it only applies when the Department of Search and Reporting and Surveying operations, which is rarely. As far as digital data is concerned, we will come up with a soup on handling the digital data. FY 2026-27 starts. ‘We want simpler rules and language,’ he said. For all personal financing updates, visit here