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Income tax rules 2026: 6 key forms that changed under the new tax system
4 min read | Updated on April 29, 2026, 16:07 IST
SUMMARY
Income tax rules 2026 introduce key changes in essential tax forms, including PAN, TDS certificates, AIS, and deduction declarations under the new tax system.
A quick guide to some of the most important forms every taxpayer should be aware of. | Image: Shutterstock.
Form No. 132: TDS certificate (Earlier Form 16B/16C/16D/16E )
Form No. 132 is a TDS certificate issued for tax deducted at source on specific transactions involving payment of rent, transfer of immovable property, technical services, or transfer of Virtual Digital Assets (VDA). It merges Forms 16B, 16C, 16D & 16E into one.
It must be issued by the deductor after depositing TDS and serves as proof for the deductee to claim TDS credit while filing ITR. It is mandatory, generated via TRACES, and must be issued within 15 days of filing the challan-cum-statement (Form 141).
Form No. 93/94/95/96: PAN Application (Earlier Form 49A/49AA)
These forms are used for allotment of Permanent Account Number (PAN):
Form 93: Individual (Citizen of India)
Form 94: Non-Individual Indian Entities
Form 95: Individual (Non-Citizen)
Form 96: Foreign Entities
Form No. 39: Relief under Section 157(1) (Earlier Form 10E)
Form 39 is used to claim tax relief on additional salary (arrears/advance), gratuity, retrenchment compensation, or commutation of pension.
It helps reduce higher tax liability arising from lump-sum receipts. The form must be filed online before claiming relief in the ITR and is mandatory if such relief is claimed.
Form No. 124: Employee Declaration for Deductions (Earlier Form 12BB)
Form 124 is submitted by employees to employers to claim deductions and exemptions such as HRA, LTA, housing loan interest, and investments.
It enables the employer to compute the correct TDS on salary. Supporting documents, like a rent agreement or investment proof, must be provided.
| Form No. (2026) | Earlier Form(s) | Purpose / Use |
|---|---|---|
| Form 132 | 16B / 16C / 16D / 16E | TDS certificate for rent, property transfer, technical services, Virtual Digital Assets |
| Form 93 | 49A | PAN application – Individual (Citizen of India) |
| Form 94 | 49A | PAN application – Non-Individual Indian Entities |
| Form 95 | 49AA | PAN application – Individual (Non-Citizen) |
| Form 96 | 49AA | PAN application – Foreign Entities |
| Form 39 | 10E | Claim relief under Sec 157(1) for arrears, gratuity, retrenchment, pension commutation |
| Form 124 | 12BB | Employee declaration for deductions (HRA, LTA, housing loan interest, investments) |
| Form 168 | 26AS | Annual Information Statement (AIS) with Taxpayer Information Summary (TIS) |
| Form 121 | 15G / 15H | Declaration for no TDS where tax liability is nil (interest, dividends, rent, etc.) |
Form No. 168: Annual Information Statement (AIS) (Earlier Form 26AS)
AIS is a detailed statement of a taxpayer’s financial transactions reported to the Income-tax Department, including TDS, investments, taxes paid, and more.
It also includes TIS (Taxpayer Information Summary), a simplified summary used while filing ITR. Reviewing AIS helps avoid errors and tax notices.
Form No. 121: Declaration for No TDS (Earlier Form 15G/15H)
Form 121 is a declaration to avoid TDS where the taxpayer’s total tax liability is nil. It replaces Forms 15G and 15H into a single form.
It must be submitted to the payer before income is credited and is applicable to incomes like interest, dividends, rent, etc. The form improves compliance and reduces refund hassles.
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