New Delhi: The Income Tax Department has released new ITR forms for Assessment Year 2026-27 — meaning the returns you will file this year for income earned between April 2025 and March 2026. The forms were notified on March 30-31, 2026, and they come with several changes that every taxpayer should understand before sitting down to file.
The deadline for most individuals and salaried taxpayers is July 31, 2026. Business taxpayers who do not require an audit now get a slightly longer window — August 31, 2026, following a change introduced by the Finance Act 2026.
The biggest change: you now need to provide two addresses
Until last year, the ITR form asked for one address. That was it — one place, one set of contact details.
From this year onwards, all ITR forms from ITR-1 to ITR-7 require you to provide both a primary address and a secondary address. The same logic now applies to phone numbers and email IDs — the form labels them as primary and secondary, and you need to fill in both.
Why did the government add this? The reason is straightforward. The Income Tax Department sends notices, refund confirmations, and important communications to taxpayers. If your primary address is outdated or incorrect, those communications get lost. A second address gives the department an alternative way to reach you. It also helps ensure that even if you have recently moved — which many working professionals do — there is at least one reliable address on record.
In practical terms, most people will use their current home address as primary and either their permanent home address, their office address, or a parent’s address as secondary.
Capital gains reporting is now simpler — no more split between two periods
Last year, if you had sold shares, mutual funds, or any asset that attracts capital gains tax, the form asked you to split your gains into two separate periods: before July 23, 2024 and after July 23, 2024.
This was because the Finance Act of 2024 changed capital gains tax rates from that date, so the government needed to know which portion of your gains fell under the old rates and which fell under the new rates.
That split reporting requirement is gone this year. For Assessment Year 2026-27, the changed rates have been fully settled into the system and no longer require a transition-period breakdown. You report your capital gains as a single figure. The process is cleaner and much less confusing.
ITR-1 is now available to more taxpayers
ITR-1, also called Sahaj, is the simplest form — designed for salaried individuals with straightforward income. Until last year, you could only use ITR-1 if you had income from one house property.
From this year, ITR-1 is open to individuals with income from up to two house properties, as long as your total income is below Rs 50 lakh. This means many more taxpayers — particularly those who own a house in their hometown and rent a place in the city where they work — can now file using the simpler form instead of having to switch to ITR-2.
ITR-4 (Sugam), which is used by small business owners and professionals opting for presumptive taxation, has also expanded similarly to cover two house properties.
Donating to charity or a political party? You now need to give more details
Two specific deductions have new disclosure requirements this year.
If you are claiming a deduction under Section 80G — which covers donations to charitable institutions, relief funds, and similar organisations — you now need to provide the transaction reference number of your payment. Whether you paid by UPI, NEFT, RTGS, or cheque, you will need to enter that reference number along with the bank IFSC code. This tightens the verification process and reduces the chance of fraudulent or incorrect deduction claims.
If you are claiming a deduction under Section 80GGC — which covers contributions to political parties — you now need to disclose the name and PAN of the political party you donated to. Earlier, only the date and mode of payment were required. This is a transparency measure.
Revised returns now get a full year instead of nine months
If you file your ITR and then realise you made an error, you can file a revised return. Until now, the window to do this was nine months from the end of the financial year.
The Finance Act 2026 has extended that window to twelve months — giving you a full year from the end of the relevant tax year to correct your return. However, there is a cost. If you use this extended window, you will need to pay an additional fee under the new Section 234-I: Rs 1,000 if your total income is below Rs 5 lakh, and Rs 5,000 if it is above.
Filing someone else’s return? The process is now simpler
Sometimes a return needs to be filed on behalf of someone else — for example, if a person has passed away and a family member is completing their final tax filing, or if someone is filing on behalf of a legal ward.
Earlier, the representative filer had to provide their own full details including address, PAN, and a declaration of their capacity. From this year, the requirement has been simplified. A representative only needs to provide their name, contact number, and email ID. The additional documentation requirements have been removed across all ITR forms.
For F&O traders: your activity now has a dedicated reporting column
If you trade in Futures and Options — derivatives traded on stock exchanges — the ITR-3 form now has a dedicated section for reporting F&O turnover and the resulting profit or loss. Previously this income had to be entered alongside other business income, which made it harder to track.
The dedicated column is part of a broader push to improve oversight of derivative trading, which has grown enormously in India over the past three years. If you are a regular F&O trader, expect your chartered accountant or tax platform to flag this section specifically.
Two important things to keep in mind before you file
First, these forms apply to income earned in FY 2025-26 under the Income Tax Act, 1961. Even though the new Income Tax Act, 2025 has come into effect from April 1, 2026, that new law governs income from April 2026 onwards. The returns being filed now still follow the previous law.
Second, choose your form carefully. If you are not sure which ITR form applies to you, most tax filing platforms — including the official income tax portal — will guide you based on your income sources. Filing in the wrong form can get your return rejected and cause unnecessary delays.
Quick summary of what changed
All taxpayers must now provide both a primary and secondary address, phone number, and email ID. Capital gains no longer need to be split between pre- and post-July 2024 periods. ITR-1 is now available for those with up to two house properties. Donations claimed under 80G require a transaction reference number; 80GGC donations require the political party’s PAN. Revised returns can now be filed within twelve months instead of nine, with a small fee. F&O trading has its own dedicated reporting column in ITR-3.
