Draft Income-Tax Rules Signal Major Simplification of ITR Framework, Says Vipin Upadhyay

Commenting on the Draft Income-Tax Rules, 2026, Vipin Upadhyay stated that the proposed changes mark a comprehensive overhaul of the existing Income-tax Return (ITR) framework. According to him, the draft rules aim to rationalise and substantially reduce the number of rules and forms that have evolved under the legacy structure, while introducing simplified and technology-enabled ITR formats.

He noted that these reforms are expected to streamline tax compliance for both individual and corporate taxpayers, making return filing more intuitive and efficient. Upadhyay further observed that the draft rules align closely with Budget 2026 measures, including extended timelines for revising returns up to 31 March, a staggered filing calendar, and an increased emphasis on ease of compliance, without altering existing tax slabs.

According to him, these developments signal a broader policy shift towards a simpler and more taxpayer-friendly tax regime. However, Upadhyay cautioned that the final structure and applicability of the new ITRs will depend on how stakeholder feedback is incorporated before the draft rules are formally notified.

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