New Delhi, Nov 18:
The Income Tax Department will notify the new income-tax return (ITR) forms and rules under the revamped Income Tax Act, 2025 by *January 2026, with implementation scheduled from **April 1, 2026, according to Central Board of Direct Taxes (CBDT) Chairman *Ravi Agrawal.
Speaking at the inauguration of the Taxpayers’ Lounge at the India International Trade Fair (IITF), Agrawal said the department is focused on making the new forms simple, streamlined, and easier to comply with.
“We are in the process of designing the new forms and rules. Our aim is to notify them by January so that taxpayers have adequate time to adjust their systems and processes,” he said.
The new framework will replace the nearly six-decade-old Income Tax Act of 1961, marking a major transition to a more modern and simplified tax regime.
Tax analysts noted that the current rules are written in complex legal language, making them difficult for taxpayers to understand and interpret. They emphasized the need for *simplified wording, **illustrations for valuation rules, and better alignment with *updated TDS provisions under the new Act.
The Taxpayers’ Lounge at IITF offers a wide range of services, including assistance with *PAN/e-PAN applications, **Aadhaar–PAN linking, PAN-related queries, **e-filing support, **Form 26AS, **TDS issues, guidance on **international taxation, *faceless assessments and appeals, and help with other online filing concerns.
Agrawal also announced that the department will release all pending tax refunds by December. “Some incorrect refund or deduction claims required scrutiny, but we expect to clear the remaining refunds by this month or December,” he added.
