Fact-check notes
Last fact-checked: 2026-05-27
Transition rule: AY 2026-27 covers FY 2025-26 and continues under the Income-tax Act, 1961. The Income-tax Act 2025 Tax Year language applies for income earned from 1 April 2026 onward.
This Batch 12 page avoids treating future-dated payroll/form/rule changes as final filing advice. Verify the active form, notification, payroll circular or portal utility before implementation.
What this covers
Employees use investment declarations to let employers compute salary TDS. Treat Form 124 references as Tax Year 2026-27 transition-tracked until the active payroll form is verified.
- Form 12BB remains relevant for FY 2025-26/AY 2026-27 payroll.
- New Act forms may use new section references from Tax Year 2026-27 onward.
- Declarations must match actual proofs submitted later.
Who this is for
- Employee submitting April declaration.
- HR payroll team updating forms.
- CA comparing old/new section references.
- Employee with HRA/home loan/NPS.
Documents and data to verify
- Rent receipts.
- Investment proofs.
- Home loan certificate.
- NPS/insurance receipts.
Common mistakes to avoid
- Declaring without actual proof.
- Using wrong year form.
- Not updating employer after changes.
- Mixing old and new section numbers.
How to proceed
- Confirm the applicable year, taxpayer type, form, state and portal status before acting.
- Reconcile portal data with payslips, books, invoices, Form 16/26AS/AIS, GST returns, EPFO records or contracts.
- Prepare a written computation, filing note, checklist or response with assumptions clearly stated.
- Download acknowledgements, challans, workings and evidence after filing or submission.
FAQs
Can WorkIndex help with this?
Yes. Post the facts and documents; relevant experts can quote for filing, advisory, reconciliation, registration, appeal support or ongoing compliance.
Is this page final legal advice?
No. Use it to prepare. A professional should verify the active law year, notification, portal utility and records before filing or taking a tax position.
What should I mention while posting?
Mention the year, state, form, deadline, amount involved, documents available, portal status and whether you need filing, correction, advisory or representation.