Form 16 Out, Form 130 In: New Tax Rules from April 1, 2026 for Salaried Class
Form 16 Out, Form 130 In: New Tax Rules from April 1, 2026 for Salaried Class
- •From April 1, 2026, Form 16 will be replaced by the new 'Form 130' for salaried employees.
- •Form 130 must be downloaded directly from the government's 'TRACES' portal, eliminating manual preparation and errors.
- •The new form will have three parts: Part A (company/employee info), Part B (salary/TDS summary), and Part C (detailed salary breakdown and investment deductions).
- •All ITR forms (ITR-1 to ITR-7) will be pre-filled with salary, bank interest, and other income data, simplifying filing.
- •Investors in stock market or property must provide more detailed information on capital gains and holding periods.
