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New Income Tax Return Forms 2026 (AY 2026–27) – ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6 & ITR-7 Filing Guide
The Central Board of Direct Taxes (CBDT) has notified the new Income Tax Return forms for Assessment Year 2026–27 (Financial Year 2025–26), bringing significant updates that every Indian taxpayer — salaried individual, professional, business owner, NRI, HUF, firm, LLP, or company — must understand before filing. The new ITR forms 2026 reflect the consolidation of the new tax regime under Section 115BAC as the default regime, expanded reporting under Schedule VDA for crypto and virtual digital assets, refined capital gains disclosure aligned with the Finance Act 2024 amendments, mandatory AIS / TIS reconciliation, and tighter linkage with PAN-Aadhaar, bank accounts, and high-value transactions reported through the Annual Information Statement.
Choosing the correct ITR form is the foundation of compliant, error-free e-filing on the income tax portal. Filing the wrong form leads to a defective return notice under Section 139(9), processing delays, refund holds, and in some cases, treatment as non-filing under Section 234F with late fee up to ₹5,000. The 2026 ITR forms — ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6, and ITR-7 — each have specific eligibility thresholds based on income source, residential status, total income, and asset / liability profile. The due dates for AY 2026–27 follow the standard cycle — 31 July 2026 for non-audit cases, 31 October 2026 for audit cases under Section 44AB, and 30 November 2026 for transfer pricing cases — with the belated and revised return window open till 31 December 2026 under Section 139(4) and 139(5).
7
ITR Forms Notified for AY 2026–27
31 Jul
ITR Filing Due Date 2026
₹7L
87A Rebate Threshold – New Regime
115BAC
New Tax Regime – Default
Provisions We Work Under
Sec 139 – ITR Filing
Sec 139(9) – Defective Return
Sec 115BAC – New Regime
Sec 87A – Rebate
Sec 234F – Late Fee
Sec 44AB – Tax Audit
Schedule VDA – Crypto
Schedule FA – Foreign Assets
AIS / TIS Reconciliation
New ITR Forms 2026 – Which Form Applies to You?
ITR-1
ITR-1 Sahaj 2026
For resident individuals (not ordinarily resident excluded) with total income up to ₹50 lakh from salary, one house property, other sources, and agricultural income up to ₹5,000.
- Salary & pension income
- One house property (no loss b/f)
- Other sources (interest, FD)
- LTCG up to ₹1.25 lakh u/s 112A
- Total income ≤ ₹50 lakh
- Agricultural income ≤ ₹5,000
ITR-2
ITR-2 2026
For individuals and HUFs not having income from business or profession — applicable when capital gains, multiple house properties, foreign income / assets, or directorship in a company exists.
- Capital gains (shares, property)
- More than one house property
- Foreign income & assets (FA)
- Director in a company
- Unlisted equity shareholding
- Total income above ₹50 lakh
ITR-3
ITR-3 2026
For individuals and HUFs having income from business or profession — applicable to professionals, traders, partners in firms, and those with proprietorship business income reported under regular books.
- Business / professional income
- Partner in firm / LLP
- F&O / intraday trading P&L
- Tax audit cases u/s 44AB
- Schedule BP, OI, AL applicable
- Crypto / VDA – Schedule VDA
ITR-4
ITR-4 Sugam 2026
For resident individuals, HUFs, and firms (other than LLP) with total income up to ₹50 lakh and presumptive business / profession income under Sections 44AD, 44ADA, or 44AE.
- Presumptive – Sec 44AD
- Presumptive – Sec 44ADA
- Presumptive – Sec 44AE
- Total income ≤ ₹50 lakh
- Salary + presumptive combined
- Resident only (not NRI)
ITR-5
ITR-5 2026
For firms, LLPs, AOPs, BOIs, artificial juridical persons, cooperative societies, local authorities, and business trusts — i.e., entities other than individuals, HUFs, and companies.
- Partnership firms
- Limited Liability Partnerships
- AOPs / BOIs
- Co-operative societies
- Investment / business trusts
- Tax audit linkage
ITR-6 & ITR-7
ITR-6 / ITR-7 2026
ITR-6 for companies (other than those claiming exemption under Section 11). ITR-7 for trusts, political parties, charitable institutions, research bodies, and entities filing under Sections 139(4A) to 139(4F).
- ITR-6 – All companies u/s 139
- ITR-7 – Trusts u/s 139(4A)
- Schedule MAT / AMT
- Form 10B / 10BB linkage
- FCRA compliance reference
- Audit report Form 3CD upload
Key Changes in ITR Forms 2026 You Must Know
Sec 115BAC
New Regime – Default
The new tax regime is the default for AY 2026–27. Taxpayers wishing to opt for the old regime (with deductions like 80C, HRA, LTA) must file Form 10-IEA before the due date.
Default Regime
Form 10-IEA
Sec 87A
Updated Rebate Limits
Rebate up to ₹25,000 for resident individuals with total income up to ₹7 lakh under the new regime; ₹12,500 up to ₹5 lakh under the old regime — making income up to threshold effectively tax-free.
₹25,000 New
₹12,500 Old
Schedule VDA
Crypto / VDA Disclosure
Schedule VDA captures every transfer of virtual digital assets — date of acquisition, date of transfer, cost, sale value — taxed at flat 30% under Section 115BBH with 1% TDS under Section 194S.
30% Flat Tax
1% TDS 194S
Schedule FA
Foreign Asset Reporting
Resident and ordinarily resident taxpayers must disclose foreign bank accounts, foreign equity / debt holdings, foreign immovable property, ESOPs from overseas employers, and any signing authority.
RNOR Excluded
Black Money Act
AIS / TIS
26AS & AIS Reconciliation
Taxpayer Information Summary and Annual Information Statement now feed directly into ITR pre-fill — every interest, dividend, share trade, mutual fund redemption, and high-value transaction is auto-captured.
Pre-fill Mandatory
Mismatch Notice
LTCG / STCG
Capital Gains Realignment
Post Finance Act 2024 — LTCG on listed equity at 12.5% over ₹1.25 lakh (Sec 112A); LTCG on other assets at 12.5% without indexation (with grandfathering for property pre-23 July 2024 sale).
12.5% LTCG
20% STCG
Sec 234F
Late Filing Fee
₹5,000 for filing after 31 July 2026 (₹1,000 if total income up to ₹5 lakh). Belated return window – up to 31 December 2026; revised return window – also 31 December 2026.
₹5,000 Fee
31 Dec Belated
Sec 139(8A)
Updated Return (ITR-U)
Updated return can be filed within 24 months from end of the relevant AY with additional tax of 25% / 50% depending on filing window — used to disclose missed income and avoid prosecution.
24-Month Window
25% / 50% Tax
Our Income Tax Filing & Advisory Services
Salaried ITR-1 / ITR-2 Filing
End-to-end ITR-1 Sahaj and ITR-2 filing for salaried individuals — Form 16 reconciliation, HRA / LTA optimisation, capital gains computation, and 80C / 80D / 80G deduction planning.
Business & Professional ITR-3
ITR-3 filing for professionals, freelancers, consultants, and business owners — books of account preparation, P&L and balance sheet reporting, Schedule BP, AL, and partner share details.
Presumptive Tax ITR-4 Sugam
Sec 44AD (8% / 6%), 44ADA (50%), and 44AE (per-vehicle) presumptive taxation filing for small businesses, freelancers, and transporters with simplified compliance.
NRI ITR Filing
Specialised ITR-2 / ITR-3 filing for NRIs and OCIs — DTAA treaty benefit application, TRC and Form 10F coordination, capital gains on Indian shares and property, and Schedule FSI / TR.
Capital Gains ITR Filing
Property sale, equity, mutual fund, gold, and crypto capital gains — STCG / LTCG computation, indexation (where applicable), Sec 54 / 54F / 54EC reinvestment exemption claims.
F&O / Intraday Trading ITR-3
Stock market traders — Futures & Options as non-speculative business, intraday as speculative, LTCG / STCG on delivery, turnover-based audit applicability under Sec 44AB(a).
Crypto / VDA Schedule VDA
Schedule VDA filing for every crypto transfer — Bitcoin, Ethereum, NFTs — flat 30% tax under Sec 115BBH, 1% TDS reconciliation under Sec 194S, and AIS matching from exchanges.
Foreign Income / Schedule FA
ESOPs from overseas employer, foreign bank interest, dividends from foreign equities, foreign rental — Schedule FA, FSI, TR, and Black Money Act compliance support.
Company ITR-6 Filing
ITR-6 for private limited companies, OPCs, and public companies — MAT calculation, Schedule BP, transfer pricing disclosure, Form 3CD audit linkage, and DPT-3 / MGT-7 cross-check.
Trust & NGO ITR-7
Charitable trusts, religious institutions, and Section 8 companies — ITR-7 with Form 10B / 10BB audit linkage, Sec 11 / 12 / 12A / 80G compliance, and FCRA reporting integration.
Defective Return & Revision
Sec 139(9) defective return rectification, Sec 139(5) revised return filing, and Sec 139(8A) updated return (ITR-U) within 24 months for missed income disclosure.
Tax Notice & Refund Tracking
Response to intimation u/s 143(1), defective notice u/s 139(9), scrutiny u/s 143(2), and refund follow-up — including Form 26AS / AIS mismatch reconciliation and revision filings.
When You Need Our ITR Filing Support
Salaried with Multiple Form 16s
Job change during FY 2025–26 with two or more Form 16s — consolidated tax computation, deduction non-duplication, and correct regime selection in ITR-1 or ITR-2.
Sold House Property / Land
Property sale during FY 2025–26 — LTCG / STCG computation, Sec 54 / 54F / 54EC reinvestment exemption, TDS u/s 194-IA credit, and capital gains schedule in ITR-2 or ITR-3.
Stock Market Trader (F&O / Equity)
F&O turnover, intraday trades, equity LTCG / STCG, mutual fund switches — ITR-3 with Schedule BP & CG, audit applicability assessment, and 44AB threshold check.
Crypto / Bitcoin / NFT Transactions
Bought, sold, swapped, or earned crypto / NFTs in FY 2025–26 — Schedule VDA filing, 30% flat tax, 1% TDS reconciliation, and AIS-based mismatch defence.
NRI with Indian Income
Rental, capital gains, dividends, or interest from India for an NRI — ITR-2 with DTAA benefit, TRC, Form 10F, and refund of excess TDS deducted by Indian payers.
Foreign Assets / ESOPs / RSUs
Holdings in foreign equities, ESOPs / RSUs from US / global employer, foreign bank account — Schedule FA disclosure and Black Money Act compliance.
Freelancer / Consultant / Influencer
Independent income from services, content creation, brand deals — ITR-4 Sugam u/s 44ADA presumptive (50%) or ITR-3 with regular books, GST integration.
Received Income Tax Notice
Sec 139(9) defective, Sec 143(1) intimation, Sec 143(2) scrutiny, or Sec 148 reassessment — drafted response, supporting documentation, and revised / updated return filing where needed.
Documents Needed for ITR Filing 2026
For Salaried Individuals
- Form 16 from employer(s)
- Form 26AS & AIS / TIS download
- Salary slips & Form 12BB
- Rent receipts (HRA claim)
- Home loan interest certificate
- 80C / 80D investment proofs
- Bank interest & FD statements
For Capital Gains / Investments
- Capital gains statement (broker)
- Mutual fund CG report
- Property sale deed & cost docs
- Indexation calculation (FY-wise)
- Sec 54 / 54F reinvestment proof
- Demat holdings statement
- Crypto exchange P&L report
For Business / Profession
- Books of account / P&L & BS
- GST returns (GSTR-1, 3B, 9)
- Tax audit Form 3CD & 3CB / 3CA
- Bank statements (all accounts)
- Purchase / sales registers
- Asset & liability statement
- Partner / director details
Our ITR Filing 2026 Engagement Process
1
Form Selection
Determine the correct ITR form (ITR-1 to ITR-7) based on income source, residential status, and total income profile.
2
Data Aggregation
Collect Form 16, 26AS, AIS, broker reports, rent receipts, investment proofs, and crypto / foreign asset statements.
3
Regime Selection
Compare new vs old regime tax outflow; recommend optimum; file Form 10-IEA where old regime is opted.
4
Computation & Review
Tax computation with deductions, capital gains, Schedule VDA, FA, and AIS reconciliation; client review & sign-off.
5
E-Filing & E-Verification
ITR submission on income-tax portal, e-verification via Aadhaar OTP / net banking, ITR-V acknowledgement, refund tracking.
Why File Your ITR 2026 With Us
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All 7 ITR forms — ITR-1 to ITR-7
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New vs old regime optimisation
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Schedule VDA crypto filing
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NRI ITR & DTAA expertise
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Capital gains & reinvestment
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F&O / intraday trader ITR-3
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AIS / TIS reconciliation
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Notice handling & revision
FAQs on New ITR Forms 2026 (AY 2026–27)
What are the new ITR forms for AY 2026–27 and which form should I file?
For Assessment Year 2026–27 (covering income earned in Financial Year 2025–26), CBDT has notified seven ITR forms — ITR-1 (Sahaj), ITR-2, ITR-3, ITR-4 (Sugam), ITR-5, ITR-6, and ITR-7. Form selection depends on (a) the type of taxpayer, (b) sources of income, and (c) total income level. ITR-1 Sahaj applies to a resident individual (other than not-ordinarily-resident) with total income up to ₹50 lakh from salary / pension, one house property, other sources, and limited LTCG up to ₹1.25 lakh under Section 112A. ITR-2 covers individuals and HUFs without business income but with multiple house properties, capital gains, foreign income / assets, ESOPs, or directorship in a company. ITR-3 is for individuals and HUFs having business or professional income, including F&O traders, freelancers maintaining regular books, and partners in firms. ITR-4 Sugam is for residents with income up to ₹50 lakh under presumptive taxation — Sec 44AD (small business), 44ADA (professionals), or 44AE (transporters). ITR-5 covers firms, LLPs, AOPs, and BOIs. ITR-6 is for companies (other than those claiming Section 11 exemption). ITR-7 is for trusts, charitable institutions, political parties, and entities filing under Sections 139(4A) to 139(4F). Filing the wrong form leads to a defective return notice under Section 139(9) — the return must be corrected within 15 days or it is treated as invalid (i.e., non-filed) attracting Section 234F late fee and possible Section 271F penalty.
When is the ITR filing due date for AY 2026–27?
For AY 2026–27, the due dates are: 31 July 2026 for individuals, HUFs, firms, and entities not subject to tax audit — this is the standard deadline for salaried, pensioners, and most ITR-1 / ITR-2 / ITR-4 filers. 31 October 2026 for taxpayers liable to tax audit under Section 44AB — companies, business entities crossing turnover thresholds, and professionals with receipts above the 44AB(b) threshold. 30 November 2026 for taxpayers required to furnish a transfer pricing report under Section 92E — entities with international transactions or specified domestic transactions. The belated return window under Section 139(4) and the revised return window under Section 139(5) are both open till 31 December 2026. Filing beyond 31 July 2026 (for non-audit cases) attracts late fee under Section 234F — ₹5,000 if total income exceeds ₹5 lakh, and ₹1,000 if total income is up to ₹5 lakh. Interest under Section 234A at 1% per month also applies on any unpaid tax from 1 August 2026 till the date of filing. After 31 December 2026, only an updated return (ITR-U) under Section 139(8A) is permitted — within 24 months from end of relevant AY — with additional tax of 25% (within 12 months) or 50% (within 24 months) over and above the regular tax and interest.
What is the new tax regime under Section 115BAC and is it the default for AY 2026–27?
Yes — for AY 2026–27, the new tax regime under Section 115BAC is the default regime. Under this regime, slab rates are: nil up to ₹3 lakh, 5% from ₹3–7 lakh, 10% from ₹7–10 lakh, 15% from ₹10–12 lakh, 20% from ₹12–15 lakh, and 30% above ₹15 lakh. The standard deduction of ₹75,000 from salary is available under the new regime. Section 87A rebate in the new regime is up to ₹25,000 for resident individuals with total income up to ₹7 lakh — making such income effectively tax-free. The new regime does not allow common deductions like 80C (PF, LIC, ELSS), 80D (mediclaim), HRA, LTA, home loan interest on self-occupied property (Sec 24(b)), most Chapter VI-A deductions, or the standard ₹1,500 deduction on family pension. To opt for the old regime (with all these deductions), a taxpayer with business / professional income (ITR-3 / ITR-4) must file Form 10-IEA before the ITR filing due date — once opted out for business income, switching back is restricted (only one switch allowed). Salaried taxpayers (ITR-1 / ITR-2) can choose between regimes every year directly within the ITR — Form 10-IEA is not required for them. The optimum regime depends on the deduction profile — a taxpayer with substantial 80C, 80D, HRA, and home loan interest claims often benefits from the old regime, while those with minimal deductions benefit from the new regime's lower slab rates.
How do I report crypto and virtual digital assets in the new ITR forms 2026?
Crypto and virtual digital asset (VDA) transactions are reported in Schedule VDA of the applicable ITR form (typically ITR-2 or ITR-3). For each transfer, the schedule requires: (a) date of acquisition, (b) date of transfer, (c) cost of acquisition, (d) consideration received, and (e) net gain — for every separate VDA transaction. Tax treatment: Section 115BBH imposes a flat 30% tax (plus surcharge and 4% cess) on income from transfer of any VDA — applicable to Bitcoin, Ethereum, all altcoins, NFTs, and tokens defined as VDAs. No deduction is allowed except cost of acquisition. No set-off is allowed against other income; no carry-forward of losses; loss from one VDA cannot be set off against gain from another VDA. Section 194S mandates 1% TDS on consideration paid for VDA transfer — deducted by the buyer / Indian exchange — credited in Form 26AS / AIS and reconciled in the ITR. Crypto exchanges in India (CoinDCX, WazirX, etc.) report buyer / seller transactions to the income tax department, which feeds into AIS — any mismatch with Schedule VDA triggers a Section 143(1) intimation or scrutiny notice. For peer-to-peer (P2P) and foreign exchange (Binance, Coinbase) transactions, the taxpayer must self-report — these are increasingly tracked via FIU-IND PMLA reporting. Our Schedule VDA filing covers transaction-wise reconciliation, AIS matching, and TDS credit alignment.
What is Schedule FA and who needs to disclose foreign assets?
Schedule FA (Foreign Assets) is a mandatory disclosure schedule in ITR-2, ITR-3, ITR-5, and ITR-6 for Resident and Ordinarily Resident (ROR) taxpayers — Not Ordinarily Resident (RNOR) and Non-Resident taxpayers are exempt from Schedule FA disclosure (though they may have other reporting). Items to disclose include: (a) Foreign bank accounts — peak balance, interest earned, and account details; (b) Foreign equity / debt holdings — shares of foreign companies, foreign mutual funds, foreign bonds; (c) Foreign immovable property — house, land, commercial real estate held abroad; (d) Foreign cash value insurance / annuity contracts; (e) Capital interest in foreign entities — partnerships, trusts, foundations; (f) Foreign trusts and beneficial interest; (g) Signing authority in foreign accounts (without ownership); (h) ESOPs / RSUs from foreign employer (vested and unvested); (i) Foreign retirement accounts — 401(k), IRA, RRSP. Disclosure is required regardless of whether the asset has generated any income. Non-disclosure attracts severe consequences under the Black Money (Undisclosed Foreign Income and Assets) Act, 2015 — penalty of ₹10 lakh per year of non-disclosure (regardless of asset value), plus prosecution with imprisonment from 6 months to 7 years. Even bona fide non-disclosure (oversight, ignorance of an inherited foreign account) attracts the ₹10 lakh penalty. Voluntary disclosure under Section 139(8A) (updated return) is the safest correction route.
What if I receive a defective return notice under Section 139(9)?
A defective return notice under Section 139(9) is issued by the Centralised Processing Centre (CPC) when the filed ITR has technical errors — wrong form selected, missing schedule, incomplete information, or mismatch with prescribed format. Common reasons: (a) Wrong ITR form — e.g., business income reported in ITR-1 instead of ITR-3; capital gains in ITR-1 instead of ITR-2; (b) Mismatch in income heads — TDS claimed without corresponding income; (c) Books of account not maintained where mandated under Section 44AA; (d) Tax audit required but Form 3CD not uploaded; (e) Signature / verification defects; (f) Schedule discrepancies — totals not matching, schedules left blank where mandatory. Response timeline: 15 days from the date of notice (extendable on application). The taxpayer must file a response on the income-tax portal — either correcting the defect by filing a revised ITR or submitting an explanation if the original was correct. Failure to respond within 15 days results in the return being treated as invalid — i.e., as if not filed — attracting Section 234F late fee, Section 234A interest, possible Section 271F penalty, and loss of refund claim. Our practice handles defective return responses end-to-end — diagnosis of the defect, schedule correction, regenerating the XML / JSON, refiling, and tracking CPC processing till final acceptance and refund release.
Can I file an ITR-U updated return for AY 2026–27 if I miss the original deadline?
Yes — Section 139(8A) introduced the Updated Return (ITR-U) mechanism allowing a taxpayer to update their ITR within 24 months from the end of the relevant Assessment Year. For AY 2026–27, ITR-U can be filed up to 31 March 2029. Use cases: (a) failed to file the original return; (b) missed reporting some income (interest, capital gains, foreign asset); (c) reported wrong income head; (d) incorrectly claimed deduction. Conditions: ITR-U cannot reduce tax liability or claim / increase refund — it can only result in additional tax payable. Additional tax is: 25% of the aggregate tax + interest if filed within 12 months from end of AY (i.e., by 31 March 2028 for AY 2026–27); 50% if filed in months 13–24 (by 31 March 2029). The aggregate is computed as basic tax + applicable interest under Sections 234A / B / C — the additional tax is over and above this. ITR-U cannot be filed if: (i) it is a return of loss; (ii) it reduces tax liability or increases refund; (iii) a search / seizure under Sec 132 has been initiated; (iv) a survey under Sec 133A has been carried out; (v) prosecution proceedings have been initiated. ITR-U is the primary route for taxpayers who realise — via AIS / Form 26AS mismatch notices, foreign tax authority correspondence, or self-review — that they missed reporting income in the original return. Our practice covers ITR-U computation including the additional tax layer and CPC submission.
File the Right ITR. Pay the Right Tax. Avoid Notices.
Partner with our income tax specialists for end-to-end ITR filing for AY 2026–27 — correct form selection, regime optimisation, Schedule VDA crypto filing, capital gains computation, NRI / foreign asset disclosure, defective return rectification, and refund tracking.
File My ITR 2026 Now