The Income Tax Department has proposed a major overhaul of tax form numbering under the draft Income-tax Rules, ahead of the Income-tax Act, 2025 coming into effect on April 1.
The move aims to simplify tax reporting and make compliance easier for taxpayers, professionals, and institutions.
The draft introduces new form templates and replaces old form numbers that have built up over decades.
Experts say this change will reduce confusion, remove duplication, and bring more clarity to tax filings.
Why the Government Is Changing Tax Form Numbers
Over the years, tax forms evolved in a fragmented way, often leading to overlapping reporting and unclear requirements.
The proposed renumbering is designed to streamline the system and align filings with modern, data-driven tax administration.
The new structure will also support real-time data matching and analytics.
However, employers, tax consultants, and companies will need to quickly update their systems to adapt to the changes.
Key Changes in Audit and International Tax Forms
Several widely used audit and international taxation forms have been merged or renumbered:
Tax audit reports currently filed under Forms 3CA, 3CB, and 3CD will be consolidated into Form 26
Transfer pricing audit reporting will move from Form 3CEB to Form 48
Minimum Alternate Tax (MAT) certification will shift from Form 29B to Form 66
MAT applies at 15 percent of book profits for companies whose regular tax liability falls below that threshold.
New Forms for Residency and Tax Treaty Disclosures
Taxpayers applying for a Tax Residency Certificate will now use Form 42, replacing the earlier Form 10FA.
Disclosures related to Double Taxation Avoidance Agreements (DTAA) will move from Form 10F to Form 41.
These changes are expected to improve consistency in cross-border tax reporting.
TDS, TCS, and Salary Reporting Get New Numbers
Core withholding and reporting forms have also been reassigned:
Lower or nil TDS applications move to Form 128
Salary TDS certificates shift to Form 130
TDS returns are renumbered as:
Form 138 (earlier 24Q for salaried payments)
Form 140 (earlier 26Q for resident payments)
Form 144 (earlier 27Q for non-resident payments)
TCS returns move from Form 27EQ to Form 143
Reporting Statements Also Renumbered
Other major reporting forms are being updated:
Annual Tax Statement (26AS) becomes Form 168
Statement of Financial Transactions (61A) becomes Form 165
Foreign remittance declaration shifts from Form 15CA to Form 145
CA certificate for remittances moves from Form 15CB to Form 146
What This Means for Taxpayers
Experts believe the new structure will lead to simpler return filing, clearer valuation rules for income and perquisites, and better standardisation across the tax compliance framework.
While the transition may require short-term adjustments, the long-term goal is a cleaner, more efficient tax system that is easier to understand and harder to misinterpret.
