CBDT proposes new Income-tax rules: What changes you can expect
Big update: India's tax department (CBDT) is planning to roll out new Income-tax Rules from April 1, 2026, replacing the old system that's been around for 60+ years.
The goal? Fewer rules and forms, and a smoother filing process.
They're also asking for public feedback until February 22, so if you've got thoughts, now's your chance.
PAN needed for big transactions
If you're making cash deposits or withdrawals over ₹10 lakh in a year, buying a car above ₹5 lakh, or dealing with property worth more than ₹20 lakh—you'll need to quote your PAN.
Even big spends at hotels or events (over ₹1 lakh) will need it now.
Plus, opening any insurance account will require your PAN from day one.
Auto-fill forms and expanded HRA benefits
The new rules promise "smart forms" that auto-fill your income data and cut down on repeat questions—so less paperwork headache for everyone.
House Rent Allowance (HRA) benefits are also expanding to include more metro cities like Bengaluru and Pune.
If you're salaried or thinking about big purchases soon, these changes could make life simpler starting next April.