The deadline for issuing Form 16 for FY 2025-26 is June 15, 2026.
According to a Bloomberg report, the proposal reportedly came from the Reserve Bank of India.
The upgraded platform brings a unified space for all TDS and TCS services.
From April 1, 2026, the Income-tax Act, 2025 replaces an outdated structure built decades ago.
In several cases, the Reserve Bank of India deducted Tax Deducted at Source (TDS) only when the bonds matured.