Centre notifies income tax return forms for AY27: Here's all you need to know

The Centre has notified all income tax return (ITR) forms for the assessment year (AY) 2026-27, according to a PTI report. This allows businesses, individuals, and other entities to start filing their income tax returns for the financial year 2025-26.

The Income Tax (I-T) department had notified ITR forms 1 and 4 (for small and medium taxpayers) on 30 March; ITR forms 2, 3, 5, 6 and 7 and ITR-U (for updated return filing) have been notified today, 31 March.

When is the last date to file ITR for FY26?

• The last date for filing ITR for individuals and those who do not have to get their accounts audited is 31 July 2026.

Will changes to I-T Act impact ITR this year?

• No, changes in the new Income-Tax Act will not impact tax filings for FY26 but will come into effect when filing ITR in financial year 2026-27, i.e. in June 2027.

What are the current income tax slabs?

What are the ITR forms available?

• ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers.
• ITR-2 is filed by individuals and HUFs who do not have income from profits and gains in business or profession but have income from capital gains.
• ITR-3 is for individuals and HUFs earning income from a proprietary business or profession.

• ITR-5 is filed by firms and limited liability partnership and cooperative societies.
• ITR-6 is filed by companies registered under Companies Act.
• ITR-7 is filed by trusts and charitable institutions.

ITR 1 and ITR 4: What are Sahaj and Sugam forms?

ITR 1 or Sahaj can be filed by a resident individual having annual income up to ₹50 lakh and who receives income from salary, one house property, other sources (interest) and agricultural income up to ₹5,000 a year.

While ITR 4 or Sugam can be filed by individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnerships or LLPs)) having a total annual income up to ₹50 lakh and income from business and profession.

How can I file ITR online?

• Log in to the Income Tax e-filing portal by entering your PAN and password.
• Select the applicable ITR form in your case based on your income sources.
• Enter or import details using the Excel or JSON utility. This helps in preventing common mistakes and errors.
• Carefully check, validate, and preview your return to ensure complete accuracy.
• E-verify the return through Aadhaar-based OTP. Keep in mind that e-verification is crucial within the stipulated time to avoid invalidation of your return.

Check for errors before submitting your form, as it can create complications, delay refunds, and even result in tax notices. It is advisable to cross-check details as per Form 26AS, AIS, and bank statements before final submission. Focus on ensuring accuracy that could prevent future notices or penalties.

Disclaimer: This article is for informational purposes only and should not be construed as tax advice. Readers are advised to consult a qualified tax professional or refer to official Income Tax Department resources before filing their returns.

(With inputs from PTI)