A lot of tax mistakes start with date confusion. Under the Income-tax Act, 2025, “tax year” becomes the key reference point. That makes it even more important not to mix the income period with the return-processing year or old assessment-year language.
The Income-tax Act, 2025 is effective from 1 April 2026. The Act’s official section-wise page includes a dedicated Section 3 for definition of “tax year”. In simple terms, income from 1 April 2026 to 31 March 2027 is part of Tax Year 2026-27, not the return year by itself.
| Wrong phrasing | Better phrasing |
|---|---|
| “FY 2026-27 return due on 31 July 2026” | Tax Year 2026-27 ends on 31 March 2027; return due date must be checked for the later filing cycle. |
| “AY 2026-27 income under new Act” | Be careful: income year and filing/assessment labels may not be identical. |
| “Old Act always applies to AY 2026-27” | Check tax year and transition/saving provisions. |
Always write dates in three layers: income period, tax year, and filing/due-date period. This avoids the common mistake of putting a 2026 due date against income that has not even fully accrued until March 2027.
This article is built only from official Income Tax Department and e-filing portal sources. Always verify the live Act, Rules, forms and tax calendar before filing.