When Will ITR Filing 2026 Start This Year? All You Need To Know About Income Tax Return Filing For AY2026-27

Income Tax Return Filing AY 2026-27: Even as the income tax department has notified ITR forms for the assessment year 2026-27, taxpayers are likely to begin filing returns this month, tax practitioners said. The tax department first releases the income tax form and then, after some time, enables the utilities (first offline and then online) that allow taxpayers to file the returns. Now, as the ITR forms have been notified, the utilities will be enabled soon.

“Usually, the ITR filing starts in the month of April. Last year, it was delayed due to major changes in income tax provisions, including LTCG, STCG, and indexation. However, this time, as the income tax department has already notified tax return forms, the ITR filing is expected to start within

this month. However, salaried individuals must wait for their Form 16 before filing the ITR for AY2026-27,” an income tax practitioner, who did not want to be named, said.

It is important to note that the Income Tax Act, 2025, came into force from April 1, replacing the 1961 Act. However, despite the shift to the I-T Act, 2025, for FY 26, the ITR this year will still be governed by the Income-tax Act, 1961, as amended by the Finance Act, 2026.

Taxpayers will still see terms like “Previous Year” and “Assessment Year”, which have been part of the system for decades, instead of the proposed new “Tax Year”.

ITR deadlines this year will remain July 31.

The government on March 30 notified the income tax return (ITR) forms for the assessment year (AY) 2026-27. The notification covers all forms — ITR-1 to ITR-7 — along with ITR-V and ITR-U, providing clarity across categories ranging from salaried individuals to businesses and trusts.

According to the notification, ITR-1 (Sahaj) now allows taxpayers to report income from up to two house properties. Previously, individuals with more than one house property were required to shift to more complex forms, such as ITR-2 or ITR-3.

However, ITR-1 continues to come with restrictions. It cannot be used by individuals with business or professional income, capital gains exceeding Rs 1.25 lakh under Section 112A, or income from sources such as lottery winnings or racehorses. It also excludes company directors, individuals with foreign assets, and those with more complex financial structures.

According to the notification, taxpayers who do not qualify for ITR-1 can opt for ITR-2 if they do not have business income but earn through multiple streams, such as salary, more than two house properties, or capital gains within specified limits. The form is also applicable in cases where income is clubbed with that of a spouse or minor child.

For individuals and Hindu Undivided Families (HUFs) with business or professional income, ITR-3 remains the applicable form. It covers income from business activities, partnerships, and professional services.

ITR-4 (Sugam) is designed for individuals, HUFs, and firms (excluding LLPs) opting for the presumptive taxation scheme under Sections 44AD, 44ADA, or 44AE, with income up to Rs 50 lakh. The form also permits limited reporting of capital gains under Section 112A, making it suitable for small taxpayers seeking simplified compliance.

The remaining forms cater to specific taxpayer groups. ITR-5 applies to firms, LLPs, Associations of Persons (AOPs), and Bodies of Individuals (BOIs). ITR-6 is meant for companies not claiming exemption under Section 11, while ITR-7 is used by trusts, political parties, and certain institutions filing under designated provisions.

Alongside standard forms, ITR-V and ITR-U play a crucial role in compliance. ITR-V is used for verification in cases where returns are not e-verified and must be submitted within 30 days to complete the filing process.

ITR-U (Updated Return) allows taxpayers to rectify errors or disclose previously unreported income within 48 months from the end of the relevant assessment year, subject to additional tax depending on the delay.