Income-tax returns: The income-tax department has released excel utility of its ITR-1 (Sahaj), ITR-2, ITR-3, and ITR-4 (Sugam) online forms for financial year 2025-26 i.e. assessment year 2026-27 and notified all ITR forms 1-5 for this tax year (FY26 / AY27).
Notably, availability of excel utility means that you can prepare your returns offline before uploading them digitally. have till 31 July to file their returns by logging into the e-filing portal with your User ID and password.
ITR-1 form online (Sahaj) — Here’s a detailed look
The types of income that shall not form part of ITR 1 form are as follows:
(a) Profits and gains from business and professions;
(b) Short term ;
(c) Long-term capital gain u/s 112A exceeding Rs.1.25 lakhs
(d) Income from more than one house property;
(e) Income under the head other sources which is of following nature: winnings from lottery, activity of owning and maintaining racehorses, taxable at special rates under section 115BBDA or section 115BBE, and income to be apportioned in accordance with provisions of section 5A.
What are the key changes in ITR-1 form for AY 2026-27?
- Two House Properties: Taxpayers can now report income from up to two house properties in , rather than just one house property.
- Unrealised Rent Field: A new, specific field for “rent which cannot be realized” has been added, aiding taxpayers with rented properties.
- Foreign Asset Reporting: Requirements for reporting foreign benefits have been removed.
What precautions should I take while filing the return of income?
- Carefully select the tax regime.
- Download AIS and Form 26AS and check the actual / TCS / tax paid. If you see any discrepancy, you should reconcile it with the Employer / Tax Deductor / Bank.
- Compile and carefully study the documents to be referred to when filing your ITR, like statement / passbook, interest certificates, receipts to claim exemptions or deductions, Form 16, Form 26AS (Annual Information Statement), investment proofs, etc.
- Ensure details like , permanent address, contact details, bank account details, etc. are correct in the pre-filled data.
- Identify the correct ITR form (from ITR-1 to ITR-7). Provide all the details in return form such as total income, deductions (if any), interest (if any), taxes paid / collected (if any), etc. No documents are to be attached along with ITR form.
- e-File the of income on or before the due date. The consequences of delay in filing returns include late filing fees, losses not getting carried forward, deductions and exemptions not being available.
- After e-Filing the return, E-Verify it. If you want to manually verify your return, send the signed physical copy of ITR-V Acknowledgement (by speed post) within appropriate timelines (30 days) of filing the return to Centralized Processing Center, Income Tax Department, Bengaluru 560500 (Karnataka).
Can I file ITR for last 4 assessment years now?
Yes, you can file ITR-U, if you have missed filing your previous four years ITRs. For current year (AY 2026-27) you can file your regular ITR.
In case you miss filing the ITR within the due date u/s 139(1), you can still file your Income Tax Return, but you may be required to pay a late filing fee of up to. Additionally, you will also be required to pay interest on the tax liability (if any).