Income Tax Update
CA Raj Chawla
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1. You are a Perfect Reflection of the Choices you have made. If you want Better Results, make Better Choices.
2. If someone Feels, they have Never Made any MISTAKE in their LIFE, then it means they had never Tried a NEW THING in their LIFE.
Income Tax Update
1. Compare Old Act (1961) vs. New Act (2025) in One Click. As we transition to the Income-tax Act, 2025 (effective April 1, 2026), the biggest challenge for professionals is finding the new section numbers for old provisions.
2. To solve this, the Income Tax Department has launched a Section-to-Section Mapping Utility.
3. Features of the Utility:
4. Instant Mapping: Select a Section from the Old Act (1961), and it shows the corresponding Clause in the New Act (2025).
5. Reverse Search: You can also search from New Act to Old Act.
6. No Login Required: Open to all.
7. Access the Utility Here: https://incometaxindia.gov.in/Pages/income-tax-navigator-utility-2025.aspx
8. Income-tax Act, 2025 is to come into force from the 1st of April, 2026. Draft Income-tax Rules, 2026 and forms forming part of these Rules have been framed. These Rules are required to be notified shortly. Prior to the said notification, it has been decided to place the draft Income-tax Rules, 2026 (and Forms) in public domain so as to seek the feedback/comments from stakeholders and public.
9. The draft rules and forms shall remain in public domain for a period of 15 days i.e. upto 22nd of February, 2026. All stakeholders and members of public are requested to go through these draft rules and forms and provide considered feedback on the same so as to make the exercise of framing of subordinate legislation more participative and effective.
10. The drafting of new Income-tax Rules and forms has followed the same philosophy as that of the new Income-tax Act 2025. The language of the rules has been simplified to the extent possible. Formulas and tables have been provided wherever necessary. Redundancy in the Income-tax Rules, 1961 has been sought to be eliminated. While preserving the larger content of the policy, certain changes have been introduced in line with the changes in the Income-tax Act, 2025.
11. The forms which are part of the draft rules have also been simplified to a large extent for the ease of the taxpayers. Standardization of common information has been done across the forms with a view to reducing the compliance burden of the taxpayers. Forms have been designed in a smart way so as to provide for automated reconciliation and also prefill capabilities so as to make filing more intuitive and less error-prone.
12. These smart forms would considerably ease the filing and enhance the user experience. They would also enable centralised processing and data driven decision making so that the technology is used to provide better services to the taxpayers. The language of the forms has also been simplified so as to avoid any operational, administrative or legal ambiguity. Notes to forms have been simplified.
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With best regards
CA (Dr) Raj Chawla
B.Com (Hons), FCA, FCS, FCMA, LLB
MIMA, DISA, MICA, Phd, ASA (Aust), CMP (USA)
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