Form 26AS Is Now Form 168: Key Changes Explained

What Was Form 26AS and Why Did It Matter?

Introduction of Form 26AS was done as an annual consolidated statement of tax that is attached with the PAN of the taxpayer. However, there have been many changes in the form in time. From being merely a simple statement of TDS, the form became a composite one including details on credits of TDS and TCS, advance taxes, high-value transactions, refunds, demands, proceedings, etc.

The Annual Information Statement (AIS) system was built on top of Form 26AS to capture an even wider set of transactions. AIS includes savings account interest, dividend income, rent received, purchase and sale of securities and property, foreign remittances, mutual fund transactions, and more. The two documents sat alongside each other on the income tax portal, and taxpayers were expected to review both before filing returns.

What Has Changed: Form 26AS to Form 168

Use of Form 168 in place of Form 26AS is basically renaming according to the Income Tax Rules, 2026. Form 168 has been notified according to Rule 245 of the Income Tax Rules, 2026. Form 26AS used to be notified according to Rule 114-I of the Income Tax Rules, 1962.

The Annual Information Statement, which most taxpayers recognise as Form 26AS, now appears as Form 168. Since AIS is used widely across banking, lending, wealth management and compliance systems, the renumbering will need coordinated system updates across multiple platforms.

In terms of content and purpose, the change is not a reinvention. The form still covers the same categories: TDS and TCS credits, advance tax payments, specified financial transactions, refund details, and proceedings information. Taxpayers who are used to checking Form 26AS before filing will find that Form 168 serves exactly the same function.

Other Forms That Have Changed Alongside It

The renaming of Form 26AS to Form 168 is part of a wider administrative overhaul under the Income Tax Act, 2025. From April 1, 2026, several familiar compliance forms including Form 16, Form 16A, Form 24Q, Form 26Q, Form 27Q and Form 26AS have been renamed under the Draft Income Tax Rules, 2026.

Some of the key form changes are:

Form 16, the TDS certificate that employers issue to salaried employees, is now Form 130. Form 13, used by taxpayers to apply for a lower or nil TDS deduction certificate, is now Form 128. The various TDS return forms (Form 24Q, 26Q, 27Q) have also been renumbered under the revised rules. The purpose and function of each form remains unchanged. Only the numbering has been revised to align with the new statutory framework.

When Does Form 168 Apply?

Form 26AS has been replaced by Form 168 applicable for FY27. However, for the current filing season, taxpayers should continue to refer to Form 26AS, since it relates to income earned during FY26.

This is an important point of difference. When you would file your return corresponding to the Assessment Year 2026-27 (which would comprise income accrued in FY26), you would continue to use Form 26AS as it exists on the portal. It is Form 168 that takes precedence in all matters after the FY27.

What Taxpayers Need to Know Right Now

For individual taxpayers, this has not made any tangible difference in terms of immediate benefits. The income tax portal keeps making the statement available and the data contained in the form also remains the same irrespective of the name of the form being either Form 26AS or Form 168.

However, here are a few things that are noteworthy. First, the form is still among the most important documents for you to verify before filing an income tax return. Should there be any discrepancy between your claim of TDS in ITR form and the AIS data, you may have to expect receiving a notice from the Income Tax Department or a delay in refunding. The department has a broad scope in monitoring transactions, hence it cannot afford to ignore anything in AIS despite being exempted or non-taxable.

The deductors like employers, banks, and companies are supposed to submit their TDS returns by the end of May for each cycle. The process will be completed in around a week.

What Changes For Employers And Financial Institutions

For businesses, payroll teams, and financial institutions, the impact is more operational. Systems that currently generate or reference form numbers will need to be updated to reflect the new numbering. These updates do not change tax rates or filing obligations, but they do reshape the compliance framework that companies rely on. Banks, lenders, and wealth management platforms that use AIS data for verification purposes will need to align their internal processes and software with the revised form identifiers.

The Broader Context: A New Income Tax Act

This simple change in form number 26AS to 168 is part of something much bigger than what meets the eye. It can be remembered that the Income Tax Act, 2025 repealed the Income Tax Act, 1961, which had been there for decades. It was done with the intention of simplifying tax laws, increasing clarity in its reading, and aligning them with modern economic practices. One such example is the renaming of various forms.

The actual impact of such a change in form number will only be seen based on the manner of execution of the same, especially through various digital platforms.