Loading Sompalli & Co...

Taxation

New Income Tax Rules

praveen Sompalli praveen Sompalli
February 08, 2026
5 min read
65 views
New Income Tax Rules
In India, the new income tax law and rules — introduced through the Income-tax Act, 2025 — are scheduled to come into effect from 1 April 2026 (start of the financial year 2026-27). This means all substantive provisions of the new Act and the accompanying simplified rules and forms will apply for income earned on or after that date, unless any specific provisions mention a different effective date.

New Income Tax Rules – Effective Date (India)

Particulars Details
Governing Law Income-tax Act, 2025
New Rules Name Income-tax Rules, 2026
Date of Notification Expected during FY 2025–26
Effective Date 1 April 2026
Applicable From Financial Year 2026–27
Assessment Year AY 2027–28
Who is Impacted Individuals, Firms, Companies, Professionals
Key Objective Simplification of law & compliance
Status of Old Act (1961) To be replaced prospectively
Transitional Provisions Expected through notifications & circulars

Key Takeaways

Point Explanation
Prospective Application New law applies only to income earned on or after 01-04-2026
No Retrospective Impact Past years will continue under the 1961 Act
Compliance Readiness Professionals should start familiarising with new sections & forms
Forms & Rules New set of Income-tax Forms notified under Rules, 2026

Action Plan for Tax Professionals

Step Recommended Action
1 Study structural changes in the new Act
2 Map old sections vs new sections
3 Update client advisory templates
4 Train staff on new compliance & forms
5 Monitor CBDT notifications & FAQs

Navigator – Income-tax Forms

(As per Income-tax Rules, 2026 vs Income-tax Rules, 1962)

Sl. No. Form No. (IT Rules, 2026) Form No. (IT Rules, 1962) Description
1 1 3BB Monthly statement to be furnished by a stock exchange in respect of transactions in which client codes have been modified after registering in the system
2 2 5B Application for notification of a zero coupon bond under section 2(112) of the Act
3 3 5BA Certificate of an accountant under rule 7
4 4 3CT Income attributable to assets located in India under section 9(10)(a) of the Act
5 5 3AF Statement regarding preliminary expenses incurred by the assessee under section 44(3)
6 6 3AE Audit Report under section 44(6) / 51(7) of the Act
7 7 3CG Application for approval of scientific research programme under section 45(3)(c)
8 8 3CH Order of approval of scientific research programme under section 45(3)(c)
9 9 3CI Receipt of payment for carrying out scientific research under section 45(3)(c)
10 10 3CJ Report to be submitted after approval of scientific research programme
11 11 3CK Application for agreement with Department of Scientific & Industrial Research
12 12 3CL Report to be submitted by prescribed authority
13 13 3CLA Report from an accountant relating to in-house R&D facility
14 14 3CM Order of approval of in-house R&D facility
15 15 New Form Statement to be filed by research association / university / institution (Donee)
16 16 New Form Certificate of donation under section 45(4)(a)
17 17 3CF Application for approval of research association / institution
18 18 3CN Application for notification of affordable housing project
19 19 3CS Application for notification of semiconductor wafer fabrication unit
20 20 3C-O Application for approval of agricultural extension project
21 21 3CP Form for notification of agricultural extension project
22 22 3CQ Application for approval of skill development project
23 23 3CR Form for notification of skill development project
24 24 3CE Audit Report under section 59
25 25 3C Form of daily case register
26 26 3CA, 3CB, 3CD Audit report and statement of particulars under section 63
27 27 5C Details of amount attributed to capital asset
28 28 3CEA Report of an accountant relating to computation of capital gains (slump sale)
29 29 62 Certificate regarding prescribed level of production
30 30 10-IA Certificate of medical authority for disability
31 31 10BA Declaration for claiming rent deduction
32 32 New Form Audit report under sections 46, 138, 139, 140, 141, 142, 143, 144
33 33 56FF Particulars to be furnished under section 144
34 34 10DA Report for deduction in respect of additional employee cost
35 35 10CCF Report for deduction for Offshore Banking Units / IFSC
36 36 10CCD Certificate for authors receiving royalty
37 37 10CCE Certificate for patentees receiving royalty
38 38 10H Certificate of foreign inward remittance
39 39 10E Form for claiming relief under section 157
40 40 10-EE Exercise of option under rule 21AAA
41 41 10F Information to be provided under section 159
42 42 10FA Application for certificate of residence
43 43 10FB Certificate of residence
44 44 67 Statement of income from a country or specified territory outside India and Foreign Tax Credit
45 45 New Form Intimation of settlement of dispute regarding foreign tax for which credit has not been claimed
46 46 New Form Exercise of option for determination of arm’s length price (ALP) under section 166(9)
47 47 New Form Certificate of accountant under section 166
48 48 3CEB Report from an accountant relating to international and specified domestic transactions
49 49 3CEFA / 3CEFB / 3CEFC Application for opting for Safe Harbour
50 50 3CEC Application for a pre-filing consultation
51 51 3CED / 3CEDA Application for an Advance Pricing Agreement (APA)
52 52 3CEF Annual Compliance Report on Advance Pricing Agreement
53 53 3CEEA Form for filing particulars of past years for calculating tax relief
54 54 New Form Application for renewal of Advance Pricing Agreement (APA)
55 55 34F Application to invoke Mutual Agreement Procedure
56 56 3CEAA Information and document by constituent entity
57 57 3CEAB Intimation by designated constituent entity
58 58 3CEAC Intimation by constituent entity where parent is non-resident
59 59 3CEAD Report by parent / alternate reporting entity
60 60 3CEAE Intimation on behalf of international group
61 61 10FC Authorisation for claiming deduction to financial institution
62 62 3CEG Reference by Assessing Officer to Commissioner
63 63 3CEH Form for returning reference under section 274
64 64 3CEI Reference to Approving Panel
65 65 3CFA Option for taxation of royalty income
66 66 29B Computation of Book Profit
67 67 29C Report for computation of Adjusted Total Income & AMT
68 68 10-IG Statement of exempt income (Schedule VI)
69 69 10-IH Statement of income of Specified Fund
70 70 10-IK Annual statement for offshore banking unit
71 71 10-IL Verification by an accountant
72 72 64E Statement of income by securitisation trust
73 73 64F Statement of income distributed by securitisation trust
74 74 64 Statement of income by Venture Capital Company/Fund
75 75 New Form Statement of income by Venture Capital Company/Fund to person liable to tax
76 76 64A Statement of income by business trust
77 77 64B Statement of income distributed by business trust
78 78 64C Statement of income distributed by investment fund
79 79 64D Statement of income by investment fund
80 80 65 Application for tonnage tax scheme
81 81 66 Audit Report under section 232
82 82 45 Warrant of authorisation
83 83 45A Warrant of authorisation
84 84 45B Warrant of authorisation
85 85 6C Application under section 247
86 86 45C Warrant of authorisation
87 87 45D Information to income-tax authority
88 88 46 Application for information
89 89 47 Form for furnishing information
90 90 48 Intimation of non-availability of information
91 91 49 Refusal to supply information
92 92 49BA Quarterly statement by specified fund / stock broker
93 93 49A PAN application – Individual (Citizen of India)
94 94 49A PAN application – Indian Company / Entity
95 95 49AA PAN application – Individual (Non-resident)
96 96 49AA PAN application – Foreign Entity
97 97 60 Declaration without PAN
98 98 61 Statement of declaration
99 99 35 Appeal to Commissioner (Appeals)
100 100 6B Audit report
101 101 6D Inventory valuation report
102 102 71 Application for TDS credit
103 103 7 Notice of demand
104 104 10A Application for provisional registration
105 105 10AB Application for NPO registration
106 106 10AC Order for provisional registration
107 107 10AD Order for grant / cancellation of registration
108 108 9A Option for charitable/religious purposes
109 109 10 Statement of accumulation of income
110 110 New Form Application for change of purpose of accumulation
111 111 New Form Order for change of purpose
112 112 10B / 10BB Audit report for NPO
113 113 10BD Statement / Correction Statement by Donee
114 114 10BE Certificate of donation
115 115 36 Appeal to Income-tax Appellate Tribunal
116 116 36A Memorandum of cross-objections
117 117 8 Declaration regarding pending question of law
118 118 8A Application to High Court / ITAT
119 119 34BC Application to Dispute Resolution Committee
120 120 34C / 34D / 34DA / 34E / 34EA Application for Advance Ruling
121 121 15G / 15H Declaration for receipt without TDS
122 122 12B / 12BAA Furnishing income details
123 123 12BA Statement of perquisites
124 124 12BB Statement of claims for deduction
125 125 12BBA Declaration by specified senior citizen
126 126 15C / 15D Application for certificate without TDS
127 127 27C Declaration by buyer
128 128 13 Application for lower/nil TDS
129 129 15E Application for proportionate tax
130 130 16 TDS certificate – Salary
131 131 16A TDS certificate
132 132 16B / 16C / 16D / 16E TDS certificates
133 133 27D TCS certificate
134 134 49B(1) TAN application – Government
135 135 49B(2) TAN application – Non-Government
136 136 New Form Application for Accounts Office Identification Number (AIN)
137 137 24G TDS/TCS Book Adjustment Statement
138 138 24Q Quarterly TDS statement – Salary
139 139 26B Refund claim by deductor
140 140 26Q Quarterly TDS statement – Non-salary
141 141 26QB / 26QC / 26QD / 26QE Challan-cum-statement
142 142 26QF Quarterly statement – Virtual Digital Asset
143 143 27EQ Quarterly TCS statement
144 144 27Q Quarterly TDS – Non-residents
145 145 15CA Information for payments to non-residents
146 146 15CB Accountant certificate for non-resident payments
147 147 15CC Quarterly statement by authorised dealer
148 148 15CD Quarterly statement by IFSC unit
149 149 26A Accountant certificate
150 150 27BA Accountant certificate
151 151 28 Notice of demand – Advance tax
152 152 28A Intimation regarding notice of demand
153 153 57 Certificate under section 413/414
154 154 30A Undertaking under section 420
155 155 30B No Objection Certificate
156 156 30C Furnishing details
157 157 New Form Certificate under section 420(4)
158 158 31 Application for Clearance Certificate
159 159 33 Clearance Certificate
160 160 29D Refund application
161 161 68 Application under section 440
162 162 49C Annual Statement
163 163 49D Information by Indian concern
164 164 52A Statement relating to cinematograph film
165 165 61A Statement of Specified Financial Transactions
166 166 61B Statement of Reportable Account
167 167 New Form Statement under section 509
168 168 26AS Annual Information Statement
169 169 New Form Application for registration as Valuer
170 170 New Form Report of valuation of Asset
171 171 39 Registration as authorised income-tax practitioner
172 172 3CEJA Accountant report – eligible investment fund
173 173 3CEK Statement by eligible investment fund
174 174 10BBA Application – Pension Fund
175 175 10BBB Intimation by Pension Fund
176 176 10BBC Certificate of accountant – Pension Fund
177 177 10BBD Statement of eligible investment
178 178 10-II Statement of exempt income
179 179 10-IJ Accountant certificate
180 180 9 Application for approval of fund
181 181 10BC Audit report – Electoral trust
182 182 3AC Audit report – Schedule IX
183 183 3AD Audit report – Schedule X
184 184 40A / 40B Nomination for Provident / Gratuity Fund
185 185 41 Accounts of subscribers
186 186 40C Recognition of Provident Fund
187 187 42 / 43 / 44 Appeal against refusal / withdrawal
188 188 New Form Application for approval – Superannuation / Gratuity Fund
189 189 59 Guidelines for approval
190 190 59A Application for approval of Mutual Funds
Tags:
# Income Tax Rules 2026 # Income Tax Forms # New Income Tax Forms # Old Income Tax Forms # IT Rules 1962 # Income Tax Compliance # Tax Audit Forms # TDS Forms # CA Updates # Tax Professionals India
praveen Sompalli

praveen Sompalli

Founder and Lead Consultant at Sompalli & Co

View all posts by praveen Sompalli

Related Posts

Taxation of Virtual Digital Assets (VDA) in India
Taxation of Virtual Digital Assets (VDA) in India

With the growing popularity of cryptocurrencies, NFTs, and other digital...

praveen Sompalli praveen Sompalli
May 2025 Income Tax Updates – Summary
May 2025 Income Tax Updates – Summary

May Month Update

praveen Sompalli praveen Sompalli
TDS Rate Chart for FY 2025-26 (Assessment Year 2026-27)
TDS Rate Chart for FY 2025-26 (Assessment Year 2026-27)

Effective from 1st April 2025 Key Changes in TDS for FY 2025-26

Urukundu Urukundu