Are old forms like Form 10-IC and Form 16 still valid?

Forms relating to pre-2026 tax years (FY 2025-26 and earlier) continue to be governed by the old Rules 1962. For Tax Year 2026-27 onwards, the new Rules 2026 prescribe revised form numbers and formats. CBDT will notify revised ITR forms, TDS certificates, and election forms under the new Rules. Until those forms are notified for each new year, practitioners should use the nearest equivalent old form as an interim measure.

What is the new due date for filing ITR under the 2026 Rules?

Under the Income-tax Rules 2026 (read with Section 139(1) of the Income-tax Act 2025), the due date for non-audit individuals for Tax Year 2026-27 is 31 August 2027 — one month later than the old 31 July deadline. For audit cases, the due date remains 31 October. These extended dates apply only from Tax Year 2026-27; the old 31 July due date still applies for the FY 2025-26 return.

Is Form 112 the new form for opting into the old tax regime?

No — this is a common misconception. Form 112 under the Income-tax Rules 2026 is the audit report for registered non-profit organisations (NPOs), filed under Section 348 of the Income-tax Act 2025, replacing old Forms 10B and 10BB. It has nothing to do with regime election. For salaried employees, regime preference is simply declared to the employer (the same mechanism as under the old Act) — there is no notified employer-facing election form. Business and professional taxpayers who want to opt out of the default new regime continue to use the renumbered equivalent of old Form 10-IEA at ITR-filing stage; this is separate from payroll and unrelated to Form 112.

Income Tax

Income-tax Rules 2026 for Practitioners and Finance Teams: Documents, Forms and Filing Workflow

Q: When did the Income-tax Rules 2026 come into force?

The Income-tax Rules 2026 came into force on 1 April 2026, replacing the Income-tax Rules 1962. They are the subordinate rules framed under the Income-tax Act 2025, which also came into force on 1 April 2026.

Income-tax Rules 2026 for Practitioners and Finance Teams: Documents, Forms and Filing Workflow

📅 June 2026 Rules 2026 New from 1 Apr 2026 ✔ incometaxindia.gov.in

The Income-tax Rules 2026 are the subordinate regulations framed under the Income-tax Act 2025. They replaced the long-running Income-tax Rules 1962 from 1 April 2026. For practitioners and CFOs, the immediate practical impact is on form numbers, documentary requirements, opt-in elections, TDS return formats and procedural timelines. This article maps the key changes so your office workflow catches up fast.

Use the NRI Income-Tax Return Filing Checker — AY 2026–27 to apply these points to your figures or facts.

Why the Rules Changed: Quick Background

The Income-tax Act 2025 restructured the entire statutory framework — renumbering sections, consolidating provisions and introducing a "Tax Year" concept. The Rules 2026 were framed to align with this restructured Act. The old Rules 1962 had accumulated over 130 rules and 125+ forms over six decades; the new Rules 2026 aim to streamline this into a cleaner framework, though many forms and procedures are carried over in substance with updated references.

For the connected rule, example or next step, see NRI Indian Income Return Filing Checklist.

ℹ️

Parallel operation: Rules 1962 continue to apply for income years up to FY 2025-26 (pre-1 April 2026). Rules 2026 apply from Tax Year 2026-27 onwards. Practitioners must track which set of rules governs each return or proceeding.

Key Form Changes: Old vs New

Purpose	Old Form (Rules 1962)	New Form (Rules 2026)	Notes
Opt out of default new regime (business/professional income)	Form 10-IEA	Renumbered equivalent under Rules 2026 (verify current number) — not Form 112, which is unrelated (see note below)	Filed at ITR stage; salaried employees with no business income don't use this form at all — they simply declare regime preference to their employer
NPO audit report	Form 10B / Form 10BB	Form 112	Filed under Section 348 of the new Act by registered non-profit organisations — this is the actual identity of Form 112, unrelated to regime election or payroll
Opt into concessional corporate tax (22%)	Form 10-IC	Equivalent under new Rules — verify current form number against the official forms navigator before filing	Irrevocable; file before first return under new rate
New manufacturing company (15%)	Form 10-ID	Equivalent under new Rules — verify current form number	Eligibility: incorporated on or after 1 Oct 2019; production before 31 Mar 2024 (old Form 10-IB was actually the election form for the 25% turnover-based rate under old Section 115BA, not the 15% manufacturing rate — don't confuse the two)
TDS certificate (salary)	Form 16 (Part A + B)	Form 130	For FY 2025-26: old Form 16 applies; for TY 2026-27: Form 130
TDS certificate (non-salary)	Form 16A	Renumbered equivalent under Rules 2026 (verify current number)	New section numbers (392/393) in certificate
TDS return (non-salary)	Form 26Q	Renumbered equivalent under Rules 2026 (verify current number)	Section numbers updated
TDS return (salary)	Form 24Q	Form 138	New regime as default; regime preference is a declaration to employer, not a separate notified form
Tax audit report	Form 3CA/3CB/3CD	Consolidated into a single unified Form 26 under Section 63 of the new Act, applicable from Tax Year 2026-27 for turnover/receipts above the audit threshold	New section cross-references throughout
Declaration for no-TDS on interest income	Form 15G / 15H	Form 121	Filed under Section 393(6) of the new Act; substance unchanged
Lower/nil TDS certificate	Form 13	Renumbered equivalent under Rules 2026 (verify current number)	Reference to new consolidated TDS sections
Updated return	ITR-U (under Section 139(8A))	ITR-U (retained; new Act equivalent)	Window extended to 48 months from end of relevant tax year, effective 1 April 2025

For the connected rule, example or next step, see TDS Correction Statement: Finance Team Workflow After Wrong PAN or Amount.

⚠️

CBDT notifications are the final authority. The Income-tax Rules 2026 have been notified and are already in force as of the date of this article, with most forms confirmed (not merely "awaited" as practitioners sometimes assume from outdated commentary). Always verify the exact current form number against the official forms navigator before filing, since some practitioner references still circulate stale or incorrect form-number claims (most commonly, conflating the unrelated NPO audit report Form 112 with regime-election forms). This article reflects the Rules as understood from the Act's structure and CBDT circulars available as of June 2026.

Due Date Changes Under Rules 2026

Filing	Old Due Date (Rules 1962)	New Due Date (Rules 2026)	Applicable From
ITR — non-audit individuals/HUFs	31 July	31 August	Tax Year 2026-27 onwards
ITR — audit cases	31 October	31 October	No change
ITR — transfer pricing cases	30 November	30 November	No change
TDS deposit (govt deductors)	Same day	Same day	No change
TDS deposit (other deductors)	7th of next month	7th of next month	No change
TDS return (quarterly)	31 July / 31 Oct / 31 Jan / 31 May	Same	No change
Advance tax — 1st instalment	15 June (15%)	15 June (15%)	No change
Advance tax — 2nd instalment	15 September (45%)	15 September (45%)	No change
Advance tax — 3rd instalment	15 December (75%)	15 December (75%)	No change
Advance tax — 4th instalment	15 March (100%)	15 March (100%)	No change
Form 16 issuance to employees	15 June	15 June	No change

TDS Consolidation: New Section Numbers for Finance Teams

The most operationally impactful change for accounts payable and payroll teams is the consolidation of TDS sections. The old Act had over 30 individual TDS sections (192, 193, 194, 194A, 194B… 194S etc.). The new Act consolidates these into two master sections:

Section 392(1) — Salary TDS (equivalent to old Section 192)
Section 393 — Non-salary TDS (equivalent to old Sections 193, 194, 194A through 194S and all variants)

The rates and thresholds are prescribed in Schedule IV of the Act and carry forward the old rates. The Rules 2026 prescribe updated challan codes and TDS return formats reflecting these new section numbers. Finance teams must update:

Accounting software TDS section drop-downs
Vendor master TDS section fields
Payroll software for Form 138 (renumbered Form 24Q) filing
TDS payment challans (Challan 281 updated)

Case Study: Payroll Team Transition at a 500-person Tech Company

Scenario — Bengaluru SaaS Company, April 2026

Pradeep, CFO of a 500-person tech company, had to migrate payroll from the old Act to the new Act for the first salary run in April 2026. Key steps his team took:

Step 1

Collected regime-preference declarations from employees wanting the old regime (no notified election form for this purpose — just a declaration to the employer)

Step 2

Updated HRMS: "Section 192" → "Section 392(1)"

Step 3

Updated standard deduction to ₹75,000 for new regime employees

Step 4

Verified Form 138 (renumbered Form 24Q) format with payroll vendor for Q1 TY 2026-27

The team set a 15 April 2026 internal deadline for all regime-preference declarations to ensure April salary TDS was computed correctly from the first run.

Document Checklist: What to Collect for Tax Year 2026-27

For Salaried Employees (Payroll / HR Teams)

Regime preference declaration (a simple statement to the employer, not a notified election form — Form 112 is unrelated; it is the NPO audit report under Section 348)
Home loan interest certificate (old regime employees only — Section 26(b) equivalent)
HRA rent receipts and landlord PAN (old regime employees)
LIC / PPF / ELSS investment proofs (old regime Chapter VI-A deductions)
NPS self-contribution proof (Section 80CCD(1B) equivalent — additional ₹50,000 deduction, old regime only; this is distinct from the employer's NPS contribution under the Section 80CCD(2) equivalent, which remains deductible under both regimes up to 14% of salary)
Medical insurance premium proofs (Section 80D — old regime only)
Previous employer Form 16 (for joiners mid-year)

For Business Taxpayers and CAs

Tax audit report under revised Form 3CD (new section references)
Depreciation schedule updated with new Section 33 block rates
Disallowance workings under new Section 37 (old 43B) for MSME payments, PF, ESI — deductions allowed only on actual payment basis
Partner remuneration computation under the new Act's renumbered equivalent of old Section 40(b) (cap formula: ₹3,00,000 or 90% of the first ₹6,00,000 of book profit, whichever is higher, plus 60% of the balance) — verify the exact new section number against the current Act text before citing it in client communications
TDS reconciliation with new section numbers (393 instead of old 194C, 194J etc.)
Form 10-IC equivalent (if claiming concessional 22% corporate rate)
MSME payment status at 31 March 2027 (actual-payment disallowance check under the new Act's equivalent of old Section 43B, now Section 37)

Depreciation: New Rules vs Old Rules

The Income-tax Rules 2026 carry forward block rates from Appendix I of the old Rules 1962. The key changes are in section cross-references:

Item	Old Rules Reference	New Rules Reference	Rate
Buildings (non-residential)	Rule 5, App I	New Rules equivalent	10%
Plant and machinery	Rule 5, App I	New Rules equivalent	15%
Computers and software	Rule 5, App I	New Rules equivalent	40%
Motor vehicles	Rule 5, App I	New Rules equivalent	15% (30% for certain vehicles)
Unabsorbed depreciation carry forward	Section 32(2) of old Act	Section 33(2) of new Act	Unlimited carry forward; no 8-year limit
Additional depreciation	Section 32(1)(iia)	New Act equivalent	20% in year of acquisition

Key Procedural Changes for CA Firms

Tax Audit (Form 3CD)

The revised Form 3CD under Rules 2026 replaces old section references throughout. Auditors must update their audit software templates. Key clauses affected:

Clause on Section 43B disallowances → now references Section 37 (actual-payment deductions)
Clause on Section 40(a)(ia) → now references the equivalent disallowance section in Chapter on Business Deductions
Clause on depreciation (Section 32) → now Section 33
New clause on TDS section mapping required for consolidated section 393 reporting

Assessments and Proceedings

Scrutiny assessments for Tax Year 2026-27 will cite new Act sections. Practitioners must update their notice-response templates. Limitation periods:

Regular assessment: 12 months from end of relevant Tax Year (same substance)
Reassessment: 3 years (routine) / 10 years (income exceeding ₹50L escaped) — new Act framework
Faceless assessment scheme continues; NFAC serves notices citing new Act sections

✅

Positive change: The new Rules 2026 streamline the number of prescribed forms and consolidate several overlapping certificates. CA firms that update their practice management software in Q1 of Tax Year 2026-27 will benefit from reduced errors in cross-referencing.

Filing Workflow: Tax Year 2026-27 Timeline

Month	Action	Form / Reference
April 2026	Collect regime preference declarations from employees (a simple statement to the employer, not Form 112 or any other notified election form); update payroll to new regime defaults	No notified form — declaration only
June 2026	Issue Form 16 for FY 2025-26 (old Act); Advance tax 1st instalment TY 2026-27	Old Form 16; Challan 280
July 2026	File ITR for FY 2025-26 (non-audit, due 31 July) — old Act	Old ITR forms
September 2026	Advance tax 2nd instalment TY 2026-27; Q2 TDS return	Challan 280; Form 26Q revised
October 2026	File ITR for FY 2025-26 (audit cases, due 31 Oct) — old Act	Old ITR forms + Form 3CA/3CB/3CD
November 2026	File ITR for FY 2025-26 (transfer pricing cases, due 30 Nov) — old Act	Old ITR forms
December 2026	Advance tax 3rd instalment TY 2026-27; mid-year regime switch review	Challan 280
March 2027	Advance tax 4th instalment; year-end tax planning under new Act	Challan 280
August 2027	File ITR for Tax Year 2026-27 (non-audit, due 31 August) — new Act/Rules	New ITR forms

✅ Practitioner Summary

Rules 2026 in force from 1 April 2026; Rules 1962 survive for FY 2025-26 and earlier years
Form 112 is the NPO audit report under Section 348, unrelated to regime election; for payroll, regime preference remains a simple declaration to the employer, while business/professional taxpayers continue to use the renumbered equivalent of old Form 10-IEA at ITR-filing stage (verify current form number)
TDS section 393 covers all non-salary TDS; section 392(1) covers salary TDS
ITR due date for non-audit cases extended to 31 August from Tax Year 2026-27
Form 3CD revised with new section cross-references — update audit software templates
Depreciation block rates unchanged; carry forward rules improved (unabsorbed depreciation: unlimited)
FY 2025-26 ITR still due 31 July 2026 for ITR-1/ITR-2 (31 August 2026 for non-audit ITR-3/ITR-4) — no extension for old Act returns

FAQ

For the connected rule, example or next step, see Business Income Tax Calculator India 2026: Profit-to-Tax Workflow.

When did the Income-tax Rules 2026 come into force? +

1 April 2026, alongside the Income-tax Act 2025. They replaced the Income-tax Rules 1962 for income years from Tax Year 2026-27 onwards. The old Rules 1962 continue to apply to proceedings relating to FY 2025-26 and earlier.

What is Form 112 and who needs to file it? +

Form 112 is not a regime-election form — that's a common misconception. Under the Income-tax Rules 2026, Form 112 is the audit report filed by registered non-profit organisations under Section 348 of the Income-tax Act 2025 (replacing old Forms 10B and 10BB), and has nothing to do with payroll or regime choice. For salaried employees, regime preference is simply declared to the employer with no notified form involved. Business and professional taxpayers who want to opt out of the default new regime continue to use the renumbered equivalent of old Form 10-IEA at ITR-filing stage — a completely separate form from Form 112.

Is old Form 16 valid for FY 2025-26? +

Yes. Form 16 for FY 2025-26 is governed by the old Rules 1962 and must be issued by 15 June 2026. The new Rules 2026 and revised Form 16 format apply from Tax Year 2026-27 onwards (to be issued by 15 June 2027).

Has the tax audit form (3CD) changed under the new Rules? +

Yes. The revised Form 3CD under Rules 2026 updates all section cross-references to match the new Act. For example, the disallowance clause previously citing Section 43B (actual-payment basis deductions for MSME, PF, ESI, etc.) now cites the new Act's renumbered equivalent, Section 37. CA firms should update their audit software templates before beginning Tax Year 2026-27 audits.

What is the ITR due date for Tax Year 2026-27 under the new Rules? +

For non-audit individuals and HUFs: 31 August 2027. For audit cases: 31 October 2027. For transfer pricing cases: 30 November 2027. These extended dates apply from Tax Year 2026-27 (the FY 2025-26/AY 2026-27 return already follows the staggered 31 July / 31 August non-audit structure) — the FY 2025-26 return is still due 31 July 2026.

Calculate Your Tax Under the New Act

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Primary category: Income Tax
Official starting point: www.incometax.gov.in