Income Tax Department Opens ITR Filing for Assessment Year 2026-27

The Income Tax Department has activated income tax return filing for the financial year 2025-26 and the corresponding assessment year 2026-27.

Excel utilities for both ITR-1 and ITR-4 forms have been made available on the e-filing portal, with the announcement made through social media on Friday. Taxpayers now have the option to file using either the Excel utility or through direct online filing.

The availability of these offline utilities marks the formal commencement of the ITR filing cycle for AY 2026-27. Taxpayers can complete their forms offline and subsequently generate a JSON file for submission through the e-filing platform after verification. The deadline for non-audit taxpayers to file their returns is July 31.

Currently, the Income Tax Department offers seven distinct ITR forms tailored to different taxpayer categories and income classifications. ITR-1, referred to as Sahaj, caters to resident individuals earning up to Rs 50 lakh annually, though it does not apply to those classified as not ordinarily resident taxpayers.

ITR-4, known as Sugam, is designed for resident individuals, Hindu Undivided Families, and firms excluding limited liability partnerships, with the same annual income ceiling of Rs 50 lakh.

The Central Board of Direct Taxes had previously notified the ITR forms for AY 2026-27, incorporating revised disclosure requirements. These changes encompass expanded reporting obligations concerning long-term capital gains and trading activities, along with fresh disclosure provisions addressing losses from share buybacks.

In related developments, the CBDT reported that India's net direct tax collections grew by 5.12 per cent year-on-year during FY 2025-26, reaching Rs 23,40,406 crore during the fiscal period.