https://www.taxtmi.com/news?id=70493 The tax department released draft rules and forms under the new Income Tax Act, 2025, inviting stakeholder comments and aiming to simplify and consolidate the regulatory framework. The draft rules reduce redundancies, standardise common information, and introduce smart forms with prefill and automated reconciliation. Two navigators map old rules/forms to the new drafts. The proposals rationalise perquisite thresholds and revise the definition of Accountant for certification, linking it to experience and revenue criteria, with separate thresholds for entities providing accountancy or valuation services. en-us Sat, 07 Feb 2026 21:01:04 +0530 Sat, 07 Feb 2026 21:01:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=70493 The tax department released draft rules and forms under the new Income Tax Act, 2025, inviting stakeholder comments and aiming to simplify and consolidate the regulatory framework. The draft rules reduce redundancies, standardise common information, and introduce smart forms with prefill and automated reconciliation. Two navigators map old rules/forms to the new drafts. The proposals rationalise perquisite thresholds and revise the definition of Accountant for certification, linking it to experience and revenue criteria, with separate thresholds for entities providing accountancy or valuation services. News - Sat, 07 Feb 2026 21:01:04 +0530 https://www.taxtmi.com/news?id=70493