Form 156 and Form 157: New Exit Compliance Framework — What We Know So Far
The Income-tax Act, 2025 is set to replace the 1961 Act from 1 April 2026, introducing Section 420 and new exit-compliance Forms 156 and 157. This is an early interpretation of what we know so far — applicability, mechanics, and what still depends on CBDT notification.
CA Vikram Mehta
@ca_vikram
CA
FCA | Direct Tax & International Taxation | Ex-Big4 | Pune | 18 years in practice. Views personal.