Income tax rules 2026: Govt renumbers key forms, tax audit now form 26, PAN, TDS, ITR forms changed

One of the most significant changes is in Tax Audit reporting, where the earlier Forms 3CA and 3CB have now been replaced by Form 26. The new form reportedly contains 55 segment-wise clauses, ...
Tax Guru

Draft Income Tax Rule 47 and 48: Audit Report U/s 63; Other Electronic Payment Modes

Rule 47 mandates Form 26 for audit reports under Section 63 with provision for revision in specified cases, while Rule 48 specifies approved electronic payment modes including UPI, NEFT, RTGS and CBDC ...

Explainer: Draft Income-Tax Rules 2026 to expand HRA relief, tighten scrutiny on rent claims, FTC, audit disclosures

Currently, salaried employees residing in Mumbai, Delhi, Kolkata and Chennai can claim HRA exemption of up to 50% of salary under the old tax regime. For other cities, the limit is capped at 40%. The ...