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ITR filing to undergo major overhaul: Form 16 set to be replaced, here's what comes next
From April 1, 2026, income tax filing in India is set to undergo significant changes as the new Income-tax Rules, 2026 come into force. The changes include redesigned ITR forms, replacement of Form 16 ...
Filing an ITR also helps create a proper financial record. It works as proof of income and becomes useful when applying for ...
Not filing an ITR leads to missing out on refunds where TDS was already deducted on FDs, salary, or freelance income.
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