New Delhi, March 24 -- The new Income Tax (I-T) Act is set to come into force from 1 April 2026, and the Central Board of Direct Taxes (CBDT) has already released the draft Income Tax Rules along with the proposed forms.

Among various amendments, a couple of major changes will be implemented from next month. These include the requirement for a CA's certificate to claim foreign tax credit (FTC) and mandatory disclosure of crypto income.

Taxpayers would need a CA's certificate in order to claim the foreign tax credit when the amount exceeds Rs.1 lakh. "When the taxpayer has overseas income amounting to more than Rs.1 lakh, then merely providing documentary evidence would not be enough. They would need to submit a CA's certificate to be ab...