Income-tax Rules 2026: What has changed in key tax forms

ITR form changs

• Income tax forms renumbered under new Income Tax Rules, 2026
• PAN, TAN, TDS, and other key forms get new numbers for compliance
• Parallel reading feature helps map old and new tax provisions

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The Income Tax Department has introduced major changes to income-tax form numbering under the Income Tax Rules, 2026, replacing several widely used forms that were previously prescribed under the Income Tax Act, 1961, and the Income Tax Rules, 1962.

"The Income tax Rules, 2026-mark India’s most comprehensive tax compliance reset in last six decades replacing scattered, inconsistent procedures with a unified, technology-driven framework that strengthens clarity, reduces friction, and modernises the entire tax ecosystem," said Tarun Garg, Director, Deloitte India.

Let us have a look at the form changes that are important for taxpayers.

The PAN application for Indian citizens and companies (earlier Form 49A) has now been redesignated as Form 93, while the PAN application for non-residents and other entities (Form 49AA) is now Form 95. Similarly, the TAN application form (Form 49B) has been replaced with Form 135. Form 15CA, related to international taxation and remittances, is now renumbered as Form 131.

Important changes for individual taxpayers are the replacement of Forms 15G and 15H with Form 121. These forms are commonly used by individuals, especially those with income below the taxable limit, to declare that no tax should be deducted at source (TDS) on interest income.

For senior citizens, Form 125 replaces the earlier Form 12BBA. This form allows eligible individuals to declare their income details and request lower or nil TDS on pension and interest earnings.

Another key update is the renumbering of Form 26AS as Form 168. This annual tax statement remains one of the most crucial documents for taxpayers, as it consolidates details of TDS credits, tax payments, and specified high-value transactions. It serves as a cross-verification tool while filing income tax returns and helps ensure that all tax credits are accurately reflected.

For businesses and deductors, the changes are equally important. The quarterly TDS return for non-salary payments, earlier filed using Form 26Q, will now be submitted through Form 140.

Similarly, Form 138 replaces Form 24Q, which is used for reporting TDS on salary and pension payments. These forms are critical for compliance, and any mismatch or delay in filing can lead to penalties and complications for both deductors and taxpayers.

TDS certificates have also been renumbered. Form 130 replaces Form 16, which is issued by employers to salaried individuals as proof of TDS on salary. Meanwhile, Form 131 takes the place of Form 16A, issued for TDS on non-salary income such as interest, commission, or rent. These certificates remain essential for income tax return filing and verification.

On the employee declaration front, Form 124 replaces Form 12BB, allowing employees to submit details of tax-saving investments and deductions, such as those under Section 80C or housing loan interest, to their employers.

Additionally, Form 123 replaces Form 12BA, which captures details of perquisites, allowances, and fringe benefits provided by employers.

Tax experts suggest that taxpayers, employers, and employees must take note of the revised form numbers to avoid confusion during filings and documentation. “Awareness of new form numbers ensure accurate compliance and avoid unnecessary confusion among the taxpayers,” said Chandni Anandan, Tax Expert at ClearTax.

Separately, the tax department has also introduced a ‘parallel reading’ feature. This allows users to map existing provisions to their corresponding new sections and compare the Income-tax Act, 1961 with the proposed Income-tax Act, 2025 side by side.