
Salaried individuals claiming HRA under the old tax regime must disclose their relationship with landlords in Form 124 if rent exceeds ₹1 lakh, per Draft Income Tax Rules, 2026.
Mr. Priyan T. Kochuvarkey With 18 years of distinguished service in the Life Insurance Corporation of India (LIC), Mr. Kochuvarkey has built an exceptional record in agency development, customer service, and business growth. Over nearly two decades of dedication, he has successfully nurtured and led a team of more than 50 Insurance Agents, guiding them to achieve consistent performance excellence.
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Salaried individuals claiming HRA under the old tax regime must disclose their relationship with landlords in Form 124 if rent exceeds ₹1 lakh, per Draft Income Tax Rules, 2026.
The draft Income-tax Rules, 2026 signal a calibrated overhaul of India’s tax compliance framework — raising thresholds for routine banking and property transactions, revising salary perquisite valuations, and expanding exemptions for families, while simultaneously tightening digital scrutiny and foreign income reporting norms.
