The Income-tax Act, 2025, which will come into effect on April 1, 2026, brings substantial changes to income tax reporting in India. Many existing forms under the Income Tax Act, 1961, have been replaced or renamed to streamline the tax filing process. Notably, Form 16 has been renamed to Form 130, which serves as a Tax Deducted at Source (TDS) certificate for salaried employees and pensioners, detailing salary earned and taxes deducted. Additionally, Form 168 will replace Form 26AS, serving as an annual tax information statement that consolidates all tax-related transactions linked to a taxpayer's Permanent Account Number (PAN). This new form aims to improve transparency and aid in compliance by providing comprehensive details such as TDS, Tax Collected at Source (TCS), and financial transactions. Other significant changes include the introduction of a unified Form 141, which simplifies TDS reporting for specific transactions by consolidating multiple forms into one. These updates reflect the government's efforts to modernize the tax system and enhance the efficiency of tax compliance for individuals and entities in India.