ITR: Income-Tax department notifies all forms for AY27 — Here's how you can file your returns online

The Income Tax department has last week notified all income tax return (ITR) forms for the assessment year 2026-27 (AY27 or FY26). ITR forms 2, 3, 5, 6 and 7, as well as ITR-U (for updated returns), were notified on 12 May, while ITR forms 1-4 were notified on 30 March.

Most individuals have likely received their Form-16 by now. Experts advise that you avoid last-minute filing to minimise errors. Notably, it is important to use the correct ITR form to ensure smooth and timely processing. In fact, filing your returns with the wrong form may trigger a notice of correction from the department.

Where can you download the forms?

Eligible taxpayers can now visit the official portal, download the forms, fill them out, generate a JSON file, and upload it online after proper verification and cross-checking of details.

• ITR-1: This form is meant for resident individual taxpayers with a total income of up to ₹50 lakh, salaried individual with one house property, and income from other sources.
• ITR-2: The ITR-2 form can be filed by individual taxpayers or Hindu Undivided Families (HUFs) who are not eligible to file ITR-1 (Sahaj) i.e. do not have business income.
• ITR-3: The ITR-3 form is meant for individual taxpayers and HUFs engaged in business or profession requiring the maintenance of elaborate books of accounts.
• ITR-4: ITR-4 can be filed by a Resident Individual/ HUF/ Firm (other than LLP) who has income not exceeding ₹50 lakh during the FY, income from business and profession computed on a presumptive basis u/s 44AD, 44ADA or 44AE, income from salary/pension, one house property, agricultural income (up to ₹ 5,000) and other sources.

• ITR-5: This income tax form can be used to file ITR by a firm, Limited Liability Partnership (LLP), Association of Persons (AOP), Body of Individuals (BOI), and Artificial Juridical Person (AJP) with presumptive income from business or profession.

How to file ITR online? Stepwise guide

Keep your Aadhaar details, PAN card, Form 16, Form 16A, Form 26AS (Annual Information Statement), capital gains statements, and investment proof ready before filing your ITR.

• Visit the Income Tax e-Filing portal here - https://www.incometax.gov.in/iec/foportal/
• Log in using your PAN, Password, and Captcha code.
• Navigate to the 'e-File' menu and select 'Income Tax Return'.
• Choose the appropriate ITR form.
• Select the Assessment Year (AY) 2023-24.

• Validate all entered data in the form and submit.
• After submission, e-verify your return using Aadhaar OTP or other available options.
• Upload and verify your return.

What is the deadline to file ITR?

For the current tax year, the deadline for individual taxpayers filing ITR is 31 July 2026; while for those using ITR forms 3 and 4, is 31 August 2026. Taxpayers who miss the July deadline can still file a delayed return by 31 December, for FY25-26 / AY26-27.

What are penalties for late or delayed filing?

Penalties for late filing of an ITR in India are determined on income level:

• For individuals with an income above ₹5 lakh, filing a belated return will incur a penalty of up to ₹5,000.
• For taxpayers with a net taxable income of ₹5 lakhs or lower, the maximum penalty for filing a belated ITR is ₹1,000.

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