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.
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This is the byline for articles produced by TaxSocial's own editorial desk rather than by an individual contributor. Every article under this name is written from the primary source — the Act, the rules made under it, the gazette notification, the circular or the judgment — and is checked against that source before it is published. Articles carry the date they were published and are updated when the law moves. How we work, and how to report an error, is set out on the Editorial Team page.