ITR Filing To Undergo Major Overhaul: Form 16 Set To Be Replaced
India is set to implement a major overhaul of its income tax return (ITR) filing system, introducing new Income-tax Rules by April 1, 2026. This legislative change will see the current Form 16, which details Tax Deducted at Source (TDS) on salaries, replaced by a new, more comprehensive Form 130. The objective is to transition towards a significantly more automated and data-driven tax compliance framework.
