AY 2026–27: New Year, Familiar Question – Which ITR Form Do You Pick?
The ITR filing season for Assessment Year (AY) 2026–27 has officially begun. The Central Board of Direct Taxes (CBDT) has notified all the Income-tax Return forms well before the new financial year, so taxpayers can plan ahead for income earned in Financial Year (FY) 2025–26 (1 April 2025 to 31 March 2026).
For AY 2026–27, filing still happens under the Income-tax Act, 1961 and Income-tax Rules, 1962, even though the new Income-tax Act, 2025 will kick in for later years. The government has notified ITR Forms 1 to 7, along with ITR-V (verification form) and ITR-U (updated return form), and clarified the broad due dates for different taxpayer categories.
If you are wondering, “Which ITR form should I file, and by when?”, this guide explains the forms in plain language, with a simple table you can scan quickly before you start filing.
Quick Snapshot: What Has CBDT Notified for AY 2026–27?
Forms notified for AY 2026–27
Multiple circulars, press notes and media summaries confirm that the following forms are now in place for AY 2026–27:
- ITR-1 (Sahaj)
- ITR-2
- ITR-3
- ITR-4 (Sugam)
- ITR-5
- ITR-6
- ITR-7
- ITR-V – Verification form for returns not e-verified.
- ITR-U – Updated return form for revising earlier years’ income within 48 months.
The forms have been notified through amendments to Rule 12 of the Income-tax Rules, 1962, via Gazette notifications issued on or around 30–31 March 2026. These forms are to be used for reporting income, claiming deductions, and computing tax for FY 2025–26.
Act applicable for AY 2026–27
While Parliament has passed the Income-tax Act, 2025, it applies prospectively. For income earned in FY 2025–26 and assessed in AY 2026–27, the applicable law remains the Income-tax Act, 1961 and the existing Rules.
This means that for AY 2026–27:
- You use the existing ITR forms notified under the 1961 Act.
- You follow the familiar provisions around heads of income, regimes, deductions, and filing rules (subject to any amendments notified up to FY 2025–26).
Last Date to File ITR for AY 2026–27
Due dates for most individual taxpayers
Multiple sources, including Moneycontrol, ClearTax and dedicated tax blogs, indicate that for FY 2025–26 (AY 2026–27), the last date for filing ITR in non-audit cases remains 31 July 2026.
- Individuals and HUFs with no audit requirement (salary, pension, interest, small house property income etc.): 31 July 2026.
Some sources also highlight an additional rationalisation where non-audit business/professional cases using ITR-3 or ITR-4 may have an extended due date of 31 August 2026, though the core statutory date under section 139(1) for non-audit cases is 31 July.
Due dates for audit and special cases
For assessees whose books require audit, or where transfer pricing rules apply, the due dates are later:
- Audit cases (companies and non-company assessees requiring audit): 31 October 2026.
- Assessees required to furnish a report under section 92E (international/ specified domestic transfer pricing cases): 30 November 2026.
- Belated or late returns: Up to 31 December 2026, with late fees and interest.
- Revised returns (where allowed): Commonly up to 31 March 2027, as indicated by online tax platforms.
Quick due date table for AY 2026–27
| Taxpayer category / return type | Indicative due date AY 2026–27 | Sources |
|---|---|---|
| Individuals / HUF / AOP / BOI (non-audit, ITR-1/2 and similar) | 31 July 2026 | Upstox ; Moneycontrol |
| Non-audit business/profession (ITR-3/4) – as per some platforms | 31 August 2026 | Cleartax ; caportal.saginfotech |
| Tax audit cases (companies, firms, others requiring audit) | 31 October 2026 | wisebooks ; Cleartax |
| Assessees with TP report under section 92E | 30 November 2026 | Cleartax |
| Belated / late returns | 31 December 2026 | blog.saginfotech ; Cleartax |
| Revised returns | Up to 31 March 2027 (as per online guidance) | Cleartax ; caportal.saginfotech |
Always cross-check the final due dates on the Income Tax Department website or with a tax professional, especially if there are subsequent extensions or circulars.
Which ITR Form Should You Use? A Simple Guide
Overview of ITR forms for AY 2026–27
While each form has fine-print conditions, most individuals and small businesses can narrow down their options quickly by understanding the core purpose of each ITR.
Below is a simplified mapping of the main ITR forms and who they are meant for under the 1961 Act for AY 2026–27.
This table is a practical starting point. The exact choice of form must always match your specific income sources, residential status, and compliance requirements.
Short, Human-Friendly Pointers for Common Scenarios
1. Salaried individual with one house property
If you are a resident salaried individual with:
- Salary or pension income.
- Income from one house property (without carry-forward losses).
- Interest or similar “other sources” income.
- Total income up to ₹50 lakh.
you will likely use ITR-1 (Sahaj), provided you do not have capital gains, foreign assets/income, business income, or directorship/unlisted shares.
If any of those conditions are not met—for example, if you sold shares or mutual funds and made capital gains—you move to ITR-2.
2. Salaried person with capital gains or foreign assets
If you are salaried but also have:
- Capital gains from shares, mutual funds, property, or other assets.
- Income from more than one house property.
- Foreign assets or foreign income.
you generally fall under ITR-2 (assuming you have no proprietorship or professional business income).
3. Freelancers, professionals, and proprietors
If you earn from business or profession—for example, as a consultant, freelancer, doctor, architect, or shop owner—you will usually file:
- ITR-3, if you maintain books and declare regular business/professional profits.
- ITR-4 (Sugam), if you are eligible and choose to opt for presumptive taxation under sections 44AD/44ADA/44AE.
The choice between ITR-3 and ITR-4 depends on your turnover, presumptive limits, and whether you want to follow the presumptive route or normal accounting.
4. Firms, LLPs, and companies
- Partnership firms, LLPs, AOPs, BOIs and similar entities typically use ITR-5 (except where ITR-7 applies).
- Companies that are not claiming exemption under section 11 file ITR-6.
- Trusts, political parties, specified funds, and institutions that must file under sections 139(4A)–(4D) use ITR-7.
5. Updating an old return – ITR-U
If you discover later that you:
- Missed reporting some income in an earlier year, or
- Want to reduce loss or adjust other details,
you may be able to use ITR-U (Updated Return) for the relevant assessment year, within 48 months from the end of that assessment year, paying additional tax and interest as per section 139(8A).
ITR-U is not a regular form for AY 2026–27; it is a correction tool for earlier years.
Key Changes and Points to Watch in AY 2026–27 Forms
While the core structure of forms remains familiar, CBDT’s notifications and expert analyses highlight a few notable themes for AY 2026–27:
- Rationalised disclosures: Certain forms (such as ITR-2 and ITR-3) now have refined schedules for capital gains, foreign assets, and residential status, making disclosures more structured.
- Business income reporting: The revised ITR-3 emphasises better reporting of business/professional income, presumptive schemes, and the chosen tax regime.
- Entity forms: ITR-5, ITR-6, and ITR-7 have updated fields to align with recent amendments, such as disclosures around compliance, exemptions, and audit information.
- Consistency with old Act: Despite the new Income-tax Act, 2025, these forms explicitly run under the 1961 Act for AY 2026–27, which helps ensure continuity and reduces confusion in this transition year.
For most retail taxpayers, the on-the-ground experience will feel similar to previous years, but professionals will notice the tighter disclosure and reporting structure.
Consequences of Missing the ITR Deadline
It can be tempting to think, “If I miss the July deadline, I’ll just file later.” Technically, that is possible through a belated return, but there are real costs.
Sources such as WiseBooks, ClearTax and other tax platforms highlight these consequences for AY 2026–27:
- Interest under section 234A: Typically 1 percent per month (or part thereof) on unpaid tax from the due date till actual filing.
- Late filing fee under section 234F: Up to ₹5,000 if filed after the due date; restricted to ₹1,000 if total income does not exceed ₹5 lakh.
- Loss of benefits: Belated returns may not allow carry-forward of certain losses (other than house property losses), and may delay refunds.
Belated returns can usually be filed up to 31 December 2026, and revised returns until 31 March 2027, but the earlier you file correctly, the better your chances of avoiding penalties and cash-flow headaches.
Practical Filing Tips for AY 2026–27
- Confirm your form before you start
Spend a few minutes matching your income profile with the ITR table above. Filing the wrong form can lead to a “defective return” notice and rework later. - Keep documents ready
Collate Form 16, AIS/TIS information from the income tax portal, interest certificates, capital gains statements, and details of all bank accounts, deductions, and investments. - Check your tax regime
If both old and new regimes are available to you for FY 2025–26, compare tax outgo under each and choose carefully. Some ITR forms capture this choice explicitly. - E-verify your return on time
Filing is not complete until you verify. You can e-verify via Aadhaar OTP, net banking, Demat, or bank account, or by sending a signed ITR-V to CPC within the prescribed time. - If in doubt, consult a professional
With overlapping rules, regime choices, and evolving disclosure requirements, it is often worth taking professional help—especially if you have capital gains, foreign assets, business income, or complex deductions.
Wrapping Up: Make the ITR Season Work for You
For AY 2026–27, the good news is that the CBDT has notified all key ITR forms (1–7, ITR-V and ITR-U) well in advance, and the overall framework under the Income-tax Act, 1961 remains familiar for income earned in FY 2025–26. The not-so-good news is that there is still plenty of room for confusion if you pick the wrong form, miss the due date, or overlook new disclosure requirements.
The simple way to approach this year’s filing is:
- Identify your taxpayer type (individual, HUF, firm, company, trust, etc.).
- Map your income sources (salary, house property, capital gains, business/profession, foreign assets).
- Choose the correct ITR form that matches both.
- Mark your relevant due date (July, August, October or November, depending on your situation).
- File and verify well before the deadline to avoid last-minute rush and penalties.
Done right, ITR filing is not just a compliance chore—it is an opportunity to review your finances, check whether you are using the right tax regime and deductions, and plan better for the year ahead.
Disclaimer
This article is meant for general informational and educational purposes only and does not constitute tax, legal, or financial advice. The descriptions of ITR forms, eligibility criteria, due dates, penalties, and legal provisions are based on publicly available information and media reports as of early 2026 and may be subject to change through subsequent notifications, circulars, or amendments. Readers should verify all details on the official Income Tax Department portal or with qualified tax professionals before filing their returns. References to specific websites, forms, or provisions are illustrative and do not imply endorsement.
