What Is Form 168 in Income Tax, and How Is It Different From Form 26AS?

Form 168 will replace Form 26AS from FY 2026-27 under the new income tax framework. For the FY 2025-26 return filing, taxpayers will still need to use the Form 2AS.

The new Form 168 is expected to give a wider view of tax credits, financial transactions, refunds, demands, and compliance-related details linked to a taxpayer’s PAN.

What Is Form 168?

Form 168 will be the new tax statement that replaces Form 26AS from FY 2026-27. 

It will act as a consolidated record where taxpayers can check tax credits, reported financial transactions, and compliance-related information in one place.

Why Is Form 26AS Being Replaced?

Form 26AS is mainly used to verify tax credit details such as TDS, TCS, advance tax, self-assessment tax, and refunds.

The new framework expands this scope so that taxpayers can also see wider transaction and compliance details, such as high-value transactions, tax demands, and pending or completed proceedings.

Know the difference between TDS vs TCS

What Will Form 168 Include?

Form 168 will be divided into two parts. Part A will focus on taxpayer profile details, while Part B will show tax, transaction, and compliance records. 

Part	Details Covered
Part A	PAN, masked Aadhaar, name, date of birth or incorporation, mobile number, email, and address
Part B	TDS, TCS, specified financial transactions, taxes paid, refunds, tax demands, pending proceedings, completed proceedings, and other prescribed details

Form 26AS vs Form 168

Form 168 is expected to cover a wider set of tax, transaction, and compliance details compared with Form 26AS. 

Here is a comparison between Form 26AS and Form 168 

Point	Form 26AS	Form 168
Applicability	Used under the current system	Applies from FY 2026-27
Main use	Tax credit verification	Wider tax and financial information statement
Coverage	TDS, TCS, tax payments, refunds	Tax credits, transactions, demands, proceedings, and compliance data
FY 2025-26 filing	Still required	Not applicable for this filing year
Scope	Limited compared with AIS and other records	Expected to offer a broader view

What Should You Verify Before Filing ITR?

Taxpayers should review key details before submitting their return.

Important items include:

• TDS and TCS entries
• Advance tax and self-assessment tax
• Refund details
• Salary income
• Bank interest and dividend income
• Capital gains
• Mutual fund and share transactions
• Property-related entries
• Foreign remittances
• High-value transactions
• Pending or completed tax proceedings

If any entry looks incorrect, taxpayers should verify it with supporting documents before filing.

Final Outlook

Form 168 is expected to make tax reporting more detailed from FY 2026-27.

For now, taxpayers filing FY 2025-26 returns should continue checking Form 26AS. Once the new form applies, it will become important to review both tax credits and wider transaction records carefully before filing an income tax return.

Source: https://www.moneycontrol.com

Disclaimer: This content is for education and awareness purposes only and should not be considered investment advice or a recommendation. Investments in securities markets are subject to market risks. Read all the related documents carefully before investing.