Income Tax Returns

The Income Tax department has notified all income tax return forms for the assessment year (AY) 2026-27. While ITR forms 1-4, filed by small and medium taxpayers, were notified on March 30, ITR forms 2, 3, 5, 6 and 7, as well as ITR-U (for filing updated returns), were notified on Tuesday. With the ITR (income tax return) notification, individuals, businesses and other entities can start filing I-T returns for the income earned in the financial year 2025-26. The last date for filing ITR for individuals and those who do not have to get their accounts audited is July 31. ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers. Sahaj can be filed by a resident individual having annual income up to Rs 50 lakh and who receives income from salary, one house property, other sources (interest) and agricultural income up to Rs 5,000 a year. Sugam can be filed by individuals, Hindu Undivided Families (HUFs) and firms (other tha

If your claim was genuine, submit documents to back it up

Scrutiny may extend to other assessment years if disclosures suggest a pattern of non-compliance

Campaign uses data analytics to prompt voluntary corrections of ineligible deduction claims, with a Dec 31 deadline to avoid penalties

If you file an updated return later, you will have to pay interest and additional tax, and will not be able to claim refunds

Once search or survey begins, even updated return may not be allowed

More than six crore income tax returns for Assessment Year 2025-26 have been filed so far, the Income Tax department said on Saturday. The last date to file ITRs without penalty is September 15. "Thank you taxpayers & tax professionals for helping us reach the milestone of 6 crore Income Tax Returns (ITRs) as of now and still counting," the I-T department said in a post on X. To assist taxpayers for ITR filing, tax payment and other related services, our helpdesk is functioning on a 24x7 basis, and the department is providing support through calls, live chats, WebEx sessions & Twitter/X, it added. It also asked taxpayers who haven't filed ITR for AY 2025-26 to file at the earliest to avoid a last-minute rush. The Income Tax department in May announced an extension of the due date for filing ITRs for Assessment Year (AY) 2025-26 (for income earned in financial year 2024-25) by individuals, HUFs and entities who do not have to get their accounts audited from July 31 to September

Once scrutiny, surveys, or raids begin, correction options are no longer available

This enhanced integration aims to simplify compliance for taxpayers and reduce errors in return filing

It’s income tax filing season, and let’s be honest, it can get pretty confusing trying to figure out which ITR form applies to you. Add to that a bunch of new updates from the Income Tax Department

It’s that time of the year again. Yes, we’re talking about Income Tax Returns. Whether you're a salaried employee, a freelancer, or running a business, filing your ITR correctly and on time is a must.

The Income Tax Department has extended the due date to file income tax return for FY 2024-25 (AY 2025-26) from July 31, 2025, to September 15, 2025. Know what it means for you!

Deductions missed in Form 16 due to late or non-submission of proofs can still be claimed while filing return

The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits popular tax deductions and exemptions

The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11. One important change has been introduced in ITR-1 and 4, which was notified on April 29, relating to the reporting of capital gain income from listed equities. Now, salaried individuals and those under the presumptive taxation scheme, having long-term capital gains (LTCG) of up to Rs 1.25 lakh in a financial year, will be able to file ITR-1 and ITR-4, respectively. Earlier, such persons/entities were required to file ITR-2. Under the I-T law, LTCG of up to Rs 1.25 lakh from sale of listed shares and mutual funds is exempt from tax. Gains exceeding Rs 1.25 lakh/ annum are subject to 12.5 per cent tax. The last date for filing ITR for individuals and those who do not have to get their accounts audited is July .

CBDT doubles asset reporting limit to ₹1 crore under revised ITR-3 for AY 2025-26 and introduces structured capital gains rules, buyback taxation, and dropdown menus

Over 90 lakh updated Income Tax Returns have been filed over the last four years which fetched Rs 9,118 crore to the exchequer, Parliament was informed on Monday. To encourage voluntary compliance, the government in 2022 had introduced the option for taxpayers to file updated I-T returns (ITR-U) up to 2 years from the relevant assessment year by paying additional income-tax. Through Finance Bill, 2025, the government has proposed to extend the time limit for filing updated returns to up to 4 years from the relevant assessment year. In the current assessment year (2024-25) till February 28, 4.64 lakh updated ITRs have been filed and taxes of Rs 431.20 crore paid, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. In AY 2023-24, over 29.79 lakh ITR-Us were filed and Rs 2,947 crore additional taxes paid. In AY 2022-23 and AY 2021-22, 40.07 lakh and 17.24 lakh updated ITRs were filed and additional Rs 3,940 crore and Rs 1,799.76 crore taxes were .

Over 90 lakh updated Income Tax Returns have been filed over the last four years which fetched Rs 9,118 crore to the exchequer, Parliament was informed on Monday. To encourage voluntary compliance, the government in 2022 had introduced the option for taxpayers to file updated I-T returns (ITR-U) up to 2 years from the relevant assessment year by paying additional income-tax. Through Finance Bill, 2025, the government has proposed to extend the time limit for filing updated returns to up to 4 years from the relevant assessment year. In the current assessment year (2024-25) till February 28, 4.64 lakh updated ITRs have been filed and taxes of Rs 431.20 crore paid, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. In AY 2023-24, over 29.79 lakh ITR-Us were filed and Rs 2,947 crore additional taxes paid. In AY 2022-23 and AY 2021-22, 40.07 lakh and 17.24 lakh updated ITRs were filed and additional Rs 3,940 crore and Rs 1,799.76 crore taxes were .

No tax on income up to ₹12 lakh, revised tax slabs, senior citizen benefits, and homeowner relief announced by FM Nirmala Sitharaman to ease the financial burden on the middle-class

Several key financial deadlines have changed, including filing belated income tax returns (ITR) by the due date and availing of Vivad Se Vishwas scheme