The Income-tax Act, 2025 and Income-tax Rules, 2026 replaced the 1961 Act and 1962 Rules from 1 April 2026, and every section, rule and form was renumbered.
This page maps the old section, rule and form numbers that matter most to foreign investors, NRIs and RSU holders: residence and RNOR, capital gains, salary and dividends, TDS, TCS on LRS, returns, foreign tax credit and remittance forms. Each table also flags the rules that changed in substance, not just in number.
Use the old numbers for income up to 31 March 2026 (FY 2025-26) and the new numbers from Tax Year 2026-27.
For example, Form 67 is now Form 44, Form 15CA is now Form 145 and s112 is s197. Most rules only moved; the few real changes are flagged in each table.
Note: Search this page for the old number you know, or use the table of contents. A reference like "s393(2) [Table: Sl. No. 17]" means serial number 17 in the table under section 393(2) of the Income-tax Act 2025.
Table of contents
- Which numbers apply: FY 2025-26 vs Tax Year 2026-27
- Quick lookup: the most-used old and new numbers
- Residence, RNOR and DTAA: s6(6) is now s6(13), s90 is now s159
- Capital gains: s45 to s55 are now s67 to s91
- Salary, perquisites and dividends: RSU perquisite s17(2)(vi) is now s17(1)(d)
- TDS on payments to non-residents: s195 is now s393(2)
- TCS on LRS: s206C(1G) is now s394
- Returns, interest, fees and penalties: s139 is now s263
- Income-tax Rules 2026: old to new rule numbers
- Forms: Form 67, 15CA, 26AS and others, old to new
- LRS and the Black Money Act: what changed and what did not
Which numbers apply: FY 2025-26 vs Tax Year 2026-27
Use the old numbers for income up to 31 March 2026 and the new numbers for income from 1 April 2026. The Income-tax Act, 2025 applies from Tax Year 2026-27, while every earlier year stays under the 1961 Act, according to CBDT's transition FAQs.
| Situation | Law and numbers to use |
|---|---|
| Income earned 1 April 2025 to 31 March 2026 (AY 2026-27), return filed in 2026 | Income-tax Act, 1961 and Income-tax Rules, 1962 (old section and form numbers) |
| Income earned from 1 April 2026 (Tax Year 2026-27), return due from July 2027 | Income-tax Act, 2025 and Income-tax Rules, 2026 (new numbers) |
| Assessment, reassessment, appeal or rectification for any year before 1 April 2026 | 1961 Act, even if started after 1 April 2026 (s536(2)(c)) |
| TDS or TCS where the earlier of credit or payment (TCS: debit or receipt) is on or after 1 April 2026 | 2025 Act (s392 to s394) |
| Foreign remittance made on or after 1 April 2026 | Forms 145 and 146; the taxability of the underlying income follows the year it accrued |
| Advance tax for Tax Year 2026-27 (first instalment 15 June 2026) | 2025 Act |
The Income-tax Act 2025 also drops two terms. A single "tax year" (s3) replaces both "previous year" and "assessment year", so income of FY 2026-27 is Tax Year 2026-27.
Note: For a filing that touches both years, use the number for the year the income belongs to, for example "Form 44 (Form 67 for FY 2025-26 and earlier)".
For what the Income-tax Act 2025 changes in practice if you invest abroad, read what has changed for Indians investing abroad under the Income-tax Act 2025.
Quick lookup: the most-used old and new numbers
Form 67 is now Form 44, Form 15CA is now Form 145, and s195 is now s393(2) of the Income-tax Act 2025. The table below lists the numbers foreign investors, NRIs and RSU holders cite most, taken from CBDT's section map, rules map and forms list.
| What it covers | Old number | New number | Full table |
|---|---|---|---|
| Foreign tax credit statement | Form 67 | Form 44 | Forms |
| Remittance declaration to a non-resident | Form 15CA | Form 145 | Forms |
| CA certificate for remittance | Form 15CB | Form 146 | Forms |
| Treaty benefit self-declaration | Form 10F | Form 41 | Forms |
| Annual tax statement / AIS | Form 26AS | Form 168 | Forms |
| No-TDS self-declaration | Forms 15G, 15H | Form 121 | Forms |
| DTAA relief | s90, s90A | s159 | Residence, RNOR and DTAA |
| Unilateral relief (no DTAA) | s91 | s160 | Residence, RNOR and DTAA |
| Not ordinarily resident (RNOR) | s6(6) | s6(13) | Residence, RNOR and DTAA |
| LTCG (general, incl. foreign shares and ETFs) | s112 | s197 | Capital gains |
| Salary; perquisites; standard deduction | s17; s16 | s16 to s18; s19 | Salary, perquisites and dividends |
| RSU, ESOP and ESPP shares as a perquisite | s17(2)(vi) | s17(1)(d) | Salary, perquisites and dividends |
| Payments to non-residents: any other interest or sum chargeable (not salary) | s195 | s393(2) [Table: Sl. No. 17] | TDS |
| LRS remittance above Rs 10 lakh: investment and other purposes | s206C(1G) | s394(1) [Table: Sl. No. 7(b)], 20% | TCS on LRS |
| Return of income (original) and due dates | s139(1) | s263(1); due dates in s263(1)(c) | Returns, fees and penalties |
| Foreign tax credit | Rule 128 | Rule 76 | Rules |
| Exchange rate to convert foreign-currency income into rupees (TTBR rule) | Rule 115 | Rule 206 | Rules |
RSU holders need these numbers most: s17(2)(vi) is now s17(1)(d), s49(2AA) is now s73(1) [Table: Sl. No. 4], Rule 3 is now Rule 15, s192 is now s392, Form 16 is now Form 130, Form 12BA is now Form 123 and s112 is now s197.
Residence, RNOR and DTAA: s6(6) is now s6(13), s90 is now s159
The Income-tax Act 2025 renumbered the residence tests, the NRI concessional regime and DTAA relief without changing them in substance. RNOR status moved from s6(6) to s6(13), and DTAA relief moved from s90 to s159, according to CBDT's section map.
Residence and RNOR
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Residence (182 days; 60 days + 365 days in four years) | s6(1) | s6 | Renumbered only |
| Visiting citizen or PIO with over Rs 15 lakh Indian income (120 days + 365 days) | s6(1) | s6(2)(b) | Renumbered only |
| Deemed resident (citizen, over Rs 15 lakh, not taxed elsewhere) | s6(1A) | s6(7) | Renumbered only |
| Not ordinarily resident (RNOR) | s6(6) | s6(13) | Renumbered only |
| Definitions: "non-resident", "liable to tax" | s2(30), s2(29A) | s2(72), s2(66) | Renumbered only |
For how the residence tests work, read resident vs RNOR vs non-resident. Returning NRIs can find every number they need in section numbers for returning NRIs under the new Act.
NRI special regime
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| NRI special regime: definitions incl. "foreign exchange asset" | s115C | s212 | Renumbered only |
| NRI regime: no deductions on investment income | s115D | s213 | Renumbered only |
| NRI regime: 20% on investment income, concessional LTCG | s115E | s214 | Renumbered only |
| NRI regime: reinvestment exemption | s115F | s215 | Renumbered only |
| NRI regime: no return if only investment income or LTCG with TDS | s115G | s216 | Renumbered only |
| NRI regime: benefit continues after becoming resident | s115H | s217 | Renumbered only |
| NRI regime: opt out | s115-I | s218 | Renumbered only |
| NRE account interest exemption | s10(4)(ii) | Schedule IV | Renumbered only |
DTAA and foreign tax credit
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| DTAA relief | s90, s90A | s159 | Renumbered only |
| TRC and Form 10F needed for treaty benefit | s90(5), s90A(5) | s159(8) | Renumbered only |
| Unilateral relief (no DTAA) | s91 | s160 | Renumbered only |
| Foreign retirement account (e.g. 401(k)) relief | s89A | s158 | Renumbered only |
Treaty relief itself works the same way under s159 as it did under s90. For how it applies to US and other foreign income, read India's DTAA rules for global investors.
Capital gains: s45 to s55 are now s67 to s91
Capital gains moved from s45 to s55 of the 1961 Act into s67 to s91 of the Income-tax Act 2025. Long-term capital gains on foreign shares and ETFs moved from s112 to s197, according to CBDT's section map.
Definitions and charge
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| "Capital asset" | s2(14) | s2(22) | Renumbered only |
| "Long-term capital asset" / "short-term capital asset" | s2(29AA) / s2(42A) | s2(67) / s2(101) | Renumbered only |
| "Long-term capital gain" / "short-term capital gain" | s2(29B) / s2(42B) | s2(68) / s2(102) | Renumbered only |
| "Transfer" | s2(47) | s2(109) | Renumbered only |
| Charge of capital gains | s45 | s67 | Renumbered only |
Computation and rates
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Mode of computation (incl. non-resident foreign-currency proviso) | s48 | s72 | Renumbered only |
| Cost for certain modes of acquisition (gift, will, inheritance) | s49 | s73 | Renumbered only |
| Cost of acquisition of RSU, ESOP and ESPP shares: the fair market value taxed as a perquisite | s49(2AA) | s73(1) [Table: Sl. No. 4] | Renumbered only |
| STCG on STT-paid equity | s111A | s196 | Renumbered only |
| LTCG (general, incl. foreign shares and ETFs) | s112 | s197 | Renumbered only |
| LTCG on STT-paid equity | s112A | s198 | Renumbered only |
| Units bought in foreign currency (offshore funds) | s115AB | s208 | Renumbered only |
Exemptions
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Exemption: residential house | s54 | s82 | Renumbered only |
| Exemption: specified bonds | s54EC | s85 | Renumbered only |
| Exemption: any asset into a house | s54F | s86 | Renumbered only |
Set-off and carry forward
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Set-off within the same head / across heads | s70 / s71 | s108 / s109 | Renumbered only |
| Capital loss carry forward (8 years) | s74 | s111 | Renumbered only |
| Business loss (8 years) / speculation loss (4 years) | s72 / s73 | s112 / s113 | Renumbered only |
| Return of loss filed on time to carry forward | s80 | s121 | Renumbered only |
Losses from years before 1 April 2026 carry forward under the Income-tax Act 2025 on the old Act's terms (FAQ Q8.2).
What changed from Tax Year 2026-27
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Buyback of shares | s46A | s69 | From Tax Year 2026-27, buyback consideration minus cost is taxed as capital gains (it was treated as dividend). Promoters pay extra tax under s69(2). Buybacks before 1 April 2026 keep the old treatment. |
| Sovereign Gold Bond redemption exemption | s47 | s70(1)(x) | From Tax Year 2026-27, exempt only if an individual held the bond from original issue till maturity. Bonds bought on the exchange no longer qualify. |
Both changes come from the Finance Act 2026, explained in the Budget memorandum. For how gains on foreign stocks are taxed, read capital gains tax on foreign stocks and ETFs.
Salary, perquisites and dividends: RSU perquisite s17(2)(vi) is now s17(1)(d)
Salary and perquisites moved from s17 to s16 to s18 of the Income-tax Act 2025. The RSU perquisite clause, s17(2)(vi), is now s17(1)(d). Income from other sources moved from s56 to s92. One rule changed: from Tax Year 2026-27, no expense deduction is allowed against dividend or mutual fund income under s93 (Finance Act 2026).
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Salary; perquisites; standard deduction | s17; s16 | s16 to s18; s19 | Renumbered only |
| RSU, ESOP and ESPP shares as a perquisite (specified security or sweat equity shares allotted or transferred by the employer or former employer) | s17(2)(vi) | s17(1)(d) | Renumbered only; wording carried over |
| Value of that perquisite: fair market value on the date the option is exercised, less the amount paid or recovered | Explanation (c) to s17(2)(vi) | s17(4)(h) | Renumbered only |
| "Dividend" defined | s2(22) | s2(40) | Renumbered only |
| Year in which dividend is taxed | s8 | s7 | Renumbered only |
| Income from other sources | s56 | s92 | Renumbered only |
| Deductions against other-sources income | s57 | s93 | From Tax Year 2026-27, no deduction of any expenditure, including interest, against dividend or mutual fund income. FY 2025-26 income still gets the 20% interest limit under s57. |
RSUs are taxed as a perquisite under s17(1)(d), valued under s17(4)(h) and Rule 15(6) of the Income-tax Rules, 2026. When you sell the shares, their cost is the value already taxed as a perquisite (s73(1) [Table: Sl. No. 4]). For the full RSU picture, read how RSUs are taxed in India from grant to sale.
The s93 change matters if you borrowed to buy shares or mutual funds and deducted the interest. For how foreign dividends are taxed, read tax on foreign dividends.
TDS on payments to non-residents: s195 is now s393(2)
All of s192 to s194T now sit in s392 (salary) and s393 of the Income-tax Act 2025, and payments to non-residents under s195 are now s393(2) [Table: Sl. No. 17], according to the s393 text. CBDT states that TDS rates and thresholds were retained (FAQ Q6.3).
Payments to non-residents
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Payments to non-residents: any other interest or sum chargeable (not salary) | s195 | s393(2) [Table: Sl. No. 17] | Renumbered only |
| Non-resident: mutual fund units (20% or DTAA rate) | s196A | s393(2) [Table: Sl. No. 10] | Renumbered only |
| Non-resident: offshore fund units and their LTCG | s196B | s393(2) [Table: Sl. No. 11, 12] | Renumbered only |
| Tax borne by payer (grossing up) | s195A | s393(10) | Renumbered only |
| Remittance reporting duty (Form 15CA/15CB) | s195(6) | s397(3)(d) | Renumbered only |
TDS investors meet in India
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Salary | s192 | s392 | Renumbered only |
| Dividend paid by an Indian company to a resident (10%) | s194 | s393(1) [Table: Sl. No. 7] | Renumbered only |
| Mutual fund unit income (10%) | s194K | s393(1) [Table: Sl. No. 4(i)] | Renumbered only |
| Purchase of immovable property (1%, Rs 50 lakh) | s194-IA | s393(1) [Table: Sl. No. 3(i)] | Renumbered only |
Declarations, certificates and credit
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| No-TDS self-declaration (Form 15G/15H) | s197A | s393(6), s393(7) | Finance Act 2026 inserted s393(6)(b): from 1 April 2027 the declaration can also be filed electronically with a depository. |
| Lower or nil TDS certificate | s197 | s395(1) | Finance Act 2026 inserted s395(6): applications can also go to a prescribed authority for electronic verification. |
| TDS certificates | s203 | s395(4) | Renumbered only |
| TDS credit to deductee | s199 | s390 (Rule 37BA is now Rule 203) | Renumbered only |
TCS on LRS: s206C(1G) is now s394
TCS moved from s206C(1G) to s394 of the Income-tax Act 2025, and investment remittances above Rs 10 lakh still attract 20%. The Finance Act 2026 cut the rate on education and medical remittances to 2% from 1 April 2026, according to the s394 text.
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Collection of tax at source (all items) | s206C | s394 | Renumbered only |
| LRS remittance above Rs 10 lakh: investment and other purposes | s206C(1G) | s394(1) [Table: Sl. No. 7(b)], 20% | Renumbered only |
| LRS remittance above Rs 10 lakh: education or medical treatment | s206C(1G) | s394(1) [Table: Sl. No. 7(a)], 2% | Finance Act 2026: rate cut from 5% to 2% from 1 April 2026. |
| LRS remittance out of an education loan from a financial institution | s206C(1G) | s394(4)(b), no TCS | Renumbered only |
| Overseas tour programme package | s206C(1G) | s394(1) [Table: Sl. No. 8], 2% | Finance Act 2026: was 5% up to Rs 10 lakh and 20% above; now 2% on any amount from 1 April 2026. |
| No TCS where buyer deducted TDS; no double TCS on tour package paid via LRS | s206C(1G) | s394(5), s394(4)(a) | Renumbered only |
| Higher TCS without PAN | s206CC | s397 | Renumbered only |
The new section number comes from the Income-tax Act 2025. The rate cuts come from the Finance Act 2026, which took effect on the same day. TCS collected from 1 April 2026 shows in Form 168.
For how TCS works and how to claim it back, read TCS on foreign investments.
Returns, interest, fees and penalties: s139 is now s263
All return types now sit in s263 of the Income-tax Act 2025. The Finance Act 2026 also extended the revised-return window to 12 months from the end of the year in both Acts (FAQ Q3.7).
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Return of income (original) and due dates | s139(1) | s263(1); due dates in s263(1)(c) | Finance Act 2026, in both Acts: 31 August for non-audit business or profession cases, already in force for AY 2026-27. Salaried taxpayers and those with only capital gains, dividend or interest income stay at 31 July. |
| Belated return (9 months from end of tax year) | s139(4) | s263(4) | Renumbered only |
| Revised return | s139(5) | s263(5) | Finance Act 2026, in both Acts: window extended to 12 months from the end of the year (for AY 2026-27, until 31 March 2027). A fee of Rs 1,000 or Rs 5,000 applies to a revision after 9 months (s428(b)). |
| Updated return (ITR-U, 48 months) | s139(8A) | s263(6) | Renumbered only |
| Advance tax liability (Rs 10,000 threshold) | s208 | s404 | Renumbered only |
| Interest: late return / advance tax shortfall / deferment | s234A / s234B / s234C | s423 / s424 / s425 | Renumbered only |
| Late return fee (Rs 1,000 up to Rs 5 lakh income, else Rs 5,000) | s234F | s428 | Finance Act 2026 substituted s428. Late-return fee unchanged (s428(a)); adds the revised-return fee (s428(b)). |
| Penalty: under-reporting and misreporting / immunity | s270A / s270AA | s439 / s440 | Renumbered only |
| Penalty: Form 15CA failure or inaccuracy (up to Rs 1 lakh) | s271-I | s462 | Renumbered only |
| Penalty: incorrect accountant certificate, e.g. Form 15CB (Rs 10,000 each) | s271J | s463 | Renumbered only |
| Statement of financial transactions (SFT); CRS/FATCA reportable accounts | s285BA | s508 | Renumbered only |
| Annual information statement | s285BB | s510 | Renumbered only |
| Tax clearance certificate (leaving India) | s230 | s420 | Renumbered only |
Note: The 31 August due date and the 12-month revised-return window already apply to FY 2025-26 returns, because the Finance Act 2026 changed the 1961 Act too.
Income-tax Rules 2026: old to new rule numbers
The 1962 Rules (511 rules) became the 2026 Rules (333 rules), notified on 20 March 2026. The foreign tax credit rule moved from Rule 128 to Rule 76, and the TTBR rule moved from Rule 115 to Rule 206, according to CBDT's rules map and the Income-tax Rules, 2026.
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Foreign tax credit | Rule 128 | Rule 76 | Form 44 needs accountant verification if the taxpayer is a company or foreign tax paid in the tax year is Rs 1 lakh or more (Rule 76(16)). New Form 45 (Rule 76(6)). |
| Exchange rate to convert foreign-currency income into rupees (TTBR rule) | Rule 115 | Rule 206 | Renumbered only |
| Exchange rate for non-residents' foreign-currency capital gains computation | Rule 115A | Rule 52 | Renumbered only |
| Holding period in certain cases | Rule 8AA | Rule 6 | Renumbered only |
| Valuation of perquisites | Rule 3 | Rule 15 | Renumbered only |
| DTAA documents (TRC, Form 10F) | Rule 21AB | Rule 75 | Renumbered only |
| Foreign retirement account (s89A) | Rule 21AAA | Rule 74 | Renumbered only |
| Remittance reporting (Form 15CA/15CB) and exempt list | Rule 37BB | Rule 220 (exempt list in 220(3)) | Form 145 can be delivered to the bank electronically; the Rs 5 lakh threshold structure is kept. |
| Non-resident without PAN: no higher TDS if TIN and TRC given | Rule 37BC | Rule 217 | Renumbered only |
| No-TDS declaration (15G/15H) | Rule 29C | Rule 211 | Renumbered only |
| Lower/nil TDS certificate application | Rules 28, 28AA | Rule 213 | Renumbered only |
| Return forms and filing | Rule 12 | Rule 164 | Renumbered only |
| Updated return | Rule 12AC | Rule 165 | Renumbered only |
| Computation of period of stay in India for crew members of foreign-bound ships | Rule 126 | Rule 8 | Renumbered only |
Rule 206 sets the exchange rate for converting foreign income into rupees. For how the rate works in practice, read SBI TT buying rate for tax filing.
Forms: Form 67, 15CA, 26AS and others, old to new
Every form was renumbered 1 to 190 under the Income-tax Rules 2026. Form 67 is now Form 44, Form 15CA is now Form 145 and Form 26AS is now Form 168, according to CBDT's forms list. Old forms stay in use for FY 2025-26 and earlier.
Foreign tax credit and treaty forms
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Foreign tax credit statement | Form 67 | Form 44 | New: verification by an accountant (a practising chartered accountant, s515(3)(b)) for companies and where foreign tax paid is Rs 1 lakh or more; Form 67 needed none. Due within 12 months from the end of the tax year if the return was filed by the original or belated deadline (s263(1) or s263(4)); with an updated return, by the date it is filed (Rules 76(12), 76(13)). That matches Form 67's timing, which was the end of the assessment year. In practice, file Form 44 before your ITR so the credit is on record when the return is processed. |
| Settlement of foreign tax dispute | None | Form 45 (new) | New: claim credit within six months from the end of the month in which a foreign tax dispute is settled. Form 44 must already be filed. |
| Treaty benefit self-declaration | Form 10F | Form 41 | Renumbered only |
| Indian TRC application / certificate | Form 10FA / Form 10FB | Form 42 / Form 43 | Renumbered only |
| Foreign retirement account option (401(k), etc.) | Form 10-EE | Form 40 | Renumbered only |
The Form 44 conditions are in CBDT's Form 44 guidance note. For a full walk-through of what changed, read what changed when Form 67 became Form 44.
Remittance forms
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Remittance declaration to a non-resident | Form 15CA | Form 145 | Parts A to D kept. Part B no longer also needs Part C; TIN field for remittees without PAN; Aadhaar fields removed; electronic delivery to the bank; withdrawable within 7 days. |
| CA certificate for remittance | Form 15CB | Form 146 | UDIN mandatory and verified with ICAI; accountant PAN and firm registration number added; extra capital gains fields. |
| Bank's quarterly remittance statement | Form 15CC | Form 147 | Renumbered only |
An individual's remittance that is not chargeable to tax and needs no RBI prior approval needs no Form 145 (Rule 220(3)(a)), according to CBDT's Form 145 FAQ. That covers a standard LRS investment, explained in LRS for global investments. Form 145 applies when the sum is chargeable to tax, for example an NRI repatriating money from an NRO account.
TDS, TCS and annual statement forms
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| Annual tax statement / AIS | Form 26AS | Form 168 | Labels now say "Tax Year". From Tax Year 2026-27, Form 168 replaces Form 26AS and the AIS. |
| No-TDS self-declaration | Forms 15G, 15H | Form 121 | Two forms merged into one; one UIN per PAN per tax year; eligibility unchanged. |
| Salary TDS certificate / other TDS certificate | Form 16 / Form 16A | Form 130 / Form 131 | Renumbered only |
| TCS certificate | Form 27D | Form 133 | Renumbered only |
| Perquisite statement / employee claims statement | Form 12BA / Form 12BB | Form 123 / Form 124 | Renumbered only |
For the forms a foreign investor or RSU holder files each year, read the tax form checklist for foreign assets and RSUs.
PAN and tax clearance forms
| What it covers | 1961 Act / 1962 Rules | 2025 Act / 2026 Rules | What changed |
|---|---|---|---|
| PAN application: foreign individual / foreign entity | Form 49AA | Form 95 / Form 96 | Split by applicant type. |
| Tax clearance: undertaking / NOC / details / certificate | Forms 30A, 30B, 30C / 31, 33 | Forms 154, 155, 156 / 158, 159 (157 new) | Renumbered; Form 157 is new. |
LRS and the Black Money Act: what changed and what did not
LRS did not change. The LRS limit of USD 2,50,000 per financial year, Form A2 and PAN for LRS are RBI rules under FEMA, set out in the RBI Master Direction on LRS. The Income-tax Act 2025 did not change them.
The Black Money Act, 2015 was not renumbered either, because it is a separate law. The Finance Act 2026 did amend it in two ways:
- Prosecution relief: Black Money Act s49 and s50 no longer apply to foreign assets, other than immovable property, worth up to Rs 20 lakh in aggregate. The change is deemed to apply from 1 October 2024.
- FAST-DS 2026: a one-time disclosure window open from 16 August to 31 December 2026. Undisclosed foreign assets or income up to Rs 1 crore can be declared at 30% tax plus an equal amount. A flat Rs 1 lakh fee covers already-taxed foreign assets up to Rs 5 crore left out of the return schedule (FAST-DS FAQs).
The Black Money Act is the law behind Schedule FA penalties. For what to report, read the Schedule FA guide for reporting foreign assets.
