New Delhi: India will implement the Income Tax Act, 2025 from April 1, 2026. Draft Rules 2026 aim to simplify tax filing and documentation. Tax rates remain unchanged.
Many documents used by salaried employees will get new form numbers. Salary TDS certificate, earlier Form 16, will become Form 130. Annual tax statement, earlier Form 26AS, will become Form 168. Employees do not file these forms themselves.
However, while downloading from the portal or collecting from employers, people must check new numbers carefully to avoid confusion or mismatch issues. Employers and HR teams must update payroll systems before the new law starts from next financial year.
Audit and business reporting changes
Earlier separate audit forms Form 3CA, 3CB and 3CD will merge into single Form 26. Transfer pricing report will shift from Form 3CEB to Form 48. MAT certification will move from Form 29B to Form 66. Compliance responsibility remains same. But auditors, consultants and companies must update software, templates and filing processes.
Using old forms after April 1 may create system errors or trigger tax notices automatically during return processing in department systems nationwide fully.
TDS, TCS and foreign forms changes
Many TDS and TCS return forms will get new numbers. Form 24Q will become Form 138. Form 26Q will become Form 140. Form 27Q will become Form 144. Form 27EQ will become Form 143. Nil or lower TDS application Form 13 will become Form 128.
Foreign remittance related forms will also change. Form 10F becomes Form 41, Form 10FA becomes Form 42, Form 15CA becomes Form 145 and Form 15CB becomes Form 146 officially.
Charity and NGO compliance form changes
Charitable trusts and NGOs will also see new form numbers. Form 10A will become Form 104. Form 10AB will become Form 105. Income accumulation reporting Form 10 will become Form 109. Audit reports Form 10B and 10BB will become Form 112.
Donation disclosure system will also change. Donee statement will be issued as Form 113 and donor certificate as Form 114. Organisations must update accounting systems and carefully check form numbers before filing returns after April 1 annually.
