New Delhi, June 17 -- Form 40 is a newly prescribed compliance form under the updated Income Tax Act, 2025, that allows Indian residents to manage taxation on foreign retirement savings in a structured way.

It is suitable for residents of India who hold retirement benefit accounts in certain notified countries, such as the US, UK, Canada, and Australia, and want to avoid immediate taxation in India on income that has not yet been withdrawn or redeemed.

So, let's understand what Form 40 is, what documents you need to defer tax liability in India, and much more.

Form 40 is particularly relevant for individuals who have worked abroad, contributed to retirement schemes such as 401(k) plans or similar pension plans, and later become residen...