Under the new Income Tax Act of 2025, Form 26AS has been replaced by Form 168, which serves as a vital document for salaried employees, freelancers, and business owners in India. This form provides a comprehensive overview of tax deducted at source (TDS), tax collected at source (TCS), refunds, and other financial transactions linked to a taxpayer's Permanent Account Number (PAN). Taxpayers are advised to review this document carefully before filing their income tax returns (ITRs) to avoid discrepancies that could lead to notices from the Income Tax Department. Form 168 is updated after deductors, such as employers and banks, file their TDS returns, typically by the end of May for the relevant assessment cycle. Taxpayers can download Form 168 through the Income Tax Department's e-filing portal or directly via net banking, making it accessible for quick reference. It is crucial for taxpayers to cross-check various income details and TDS entries against this form to ensure accuracy and avoid complications during the tax filing process.