Dated 15.04.2026 : The Central Board of Direct Taxes (CBDT) has recently notified the Income Tax Return (ITR) forms for the Financial Year (FY) 2025-26, which corresponds to the Assessment Year (AY) 2026-27.
Below is a comprehensive guide to help you navigate the updated forms, understand your eligibility, and prepare for a seamless filing experience
Comprehensive List of ITR Forms (AY 2026-27)
| Form Type | Purpose & Primary Source of Income |
| ITR-1 (Sahaj) | Salaried individuals/pensioners with income up to ₹50 lakh. |
| ITR-2 | Individuals/HUFs with Capital Gains; NO business income. |
| ITR-3 | Individuals/HUFs with Business or Professional income. |
| ITR-4 (Sugam) | Residents opting for Presumptive Taxation (Sec 44AD/44ADA/44AE). |
| ITR-5 | For Firms, LLPs, AOPs, BOIs, and Business Trusts. |
| ITR-6 | For Companies other than those claiming exemption under Sec 11. |
1. Eligibility: Who Can File and Who Cannot?
ITR-1 (Sahaj)
- Eligible: Resident individuals having income from Salary, one house property, and other sources (interest/dividend) where total income is up to ₹50 lakh.
- NOT Eligible: Non-residents (NRIs), Directors of companies, holders of unlisted equity shares, or individuals with income from Capital Gains or Business.
ITR-2
- Eligible: Individuals and HUFs not eligible for ITR-1 who do not have income from “Profits and Gains of Business or Profession.” Ideal for those with multiple house properties or Capital Gains from shares/property.
- NOT Eligible: Anyone with income from a business or a professional practice.
ITR-3
- Eligible: Individuals and HUFs earning income from a proprietary business or profession. This includes partners in a firm.
- NOT Eligible: Companies or Charitable Trusts.
ITR-4 (Sugam)
- Eligible: Resident Individuals, HUFs, and Firms (other than LLPs) with total income up to ₹50 lakh and income from business/profession computed under presumptive sections (44AD, 44ADA, 44AE).
2. Key Changes for AY 2026-27
The Income Tax Department has introduced several updates to increase transparency and ease the reporting of specific investments:
- Expanded Contact & Address Reporting: ITR-1 now allows for both primary and secondary mobile numbers and email addresses. Similarly, taxpayers can now provide both primary and secondary address details.
- Donation Transparency (Sec 80G & 80GGC): You must now provide the Transaction Reference Number (UPI/Cheque/NEFT) and Bank IFSC when claiming 80G deductions. For political donations (80GGC), providing the name and PAN of the political party is now mandatory.
- F&O Reporting (ITR-3): A dedicated section for Futures & Options (F&O) trading has been introduced to report turnover and income separately in the P&L statement.
- Disability Classification: Schedules 80DD and 80U have been refined to include specific disability types (e.g., blindness, autism, leprosy cured) rather than broad groupings.
- Presumptive Income for Non-Residents: New sections (like Sec 44BBD) require NRIs in specific sectors (like electronics manufacturing) to disclose gross receipts and net profits even under presumptive schemes.
Deadlines for ITR Submission (AY 2026-27)
To avoid late filing fees and interest, ensure you submit your return by the following due dates
| Taxpayer Category | Applicable ITR Form | Filing Deadline |
| Salaried Individuals / Pensioners | ITR-1, ITR-2 | July 31, 2026 |
| Non-Audit Cases (Small Business/Professions) | ITR-3, ITR-4 | August 31, 2026 |
| Audit Cases (Business/Professionals) | ITR-3, ITR-5, ITR-6 | October 31, 2026 |
| Transfer Pricing Cases (International Transactions) | ITR-3, ITR-6 | November 30, 2026 |
What happens if you miss the deadline?
If you fail to file by the dates above, you can still file a Belated Return, but it comes with consequences:
- Late Filing Fee (Sec 234F): * ₹1,000 if your total income is below ₹5 lakh.
- ₹5,000 if your total income exceeds ₹5 lakh.
- Interest (Sec 234A): Interest at 1% per month (or part of a month) on the unpaid tax amount.
- Loss of Benefits: You cannot carry forward certain losses (like business or capital losses) to future years.
- Absolute Deadline: The final date to file a Belated or Revised Return for this assessment year is December 31, 2026
For NRIs: Even if you are living in the US, if your Indian income (from rent, interest, or capital gains) exceeds the basic exemption limit (₹2.5 lakh or ₹3 lakh depending on the regime), you must file your ITR by the July 31, 2026 deadline.
This article is for informational purposes only.Content for this article was developed with the assistance of Gemini, a large language model from Google
