Income-tax Rules, 2026 Notified: Major Compliance Shift for Trusts, New Tax Regime

• Government notifies Income-tax Rules, 2026, completing legislative architecture for Income-tax Act, 2025.
• New rules replace decades-old 1962 rules and 1961 Act, marking a structural reset of India’s direct tax framework.
• Focus is on tightening compliance, strengthening disclosures, and expanding digital reporting, not new taxes.
• Charitable trusts see a common application form for registration and donations, streamlining procedures.
• Record-keeping for charitable organizations reduced from ten to six years, easing administrative burden.