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flag India drafts new tax rules for 2026, cutting forms and rules, adding automation and stricter accountant standards.

flag India’s Income Tax Department has released draft rules and forms for the new Income Tax Act, 2025, effective April 1, 2026, reducing rules from 511 to 333 and forms from 399 to 190 by eliminating redundancies and standardizing data. flag The updated forms include automated reconciliation, prefill features, and clearer language to reduce errors and improve filing efficiency. flag Key changes include updated prerequisite thresholds, stricter qualifications for accountants requiring 10 years of experience and minimum income, and revised fair market value rules for assets. flag The public has until February 22, 2026, to provide feedback before final implementation.

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