Income Tax Act 2025: Big changes in HRA, Foreign Income, PAN and Audit Rules. Money Live | Income Tax Act 2025: Major changes in HRA, Foreign Income, PAN and Audit Rules

With the rollout of the Income Tax Act 2025, major changes will be implemented in HRA claims, foreign income reporting, PAN applications and audit compliance norms from 1 April 2026. Now it will be mandatory to disclose landlord relationship in Form 124 while claiming HRA. More documentation will be required under Form 44 for foreign income and FTC claims. Duplicate check and correct declaration will be mandatory in PAN applications. The direct tax impact of audit remarks under Form 26 will have to be evaluated. Overall, tax compliance and transparency is going to become very strict from 2026, where without proper documentation the risk may increase.