ITR Forms Notified: The government has notified income tax return forms (ITR-1 to ITR-7) for the Assessment Year (AY) 2026–27, allowing taxpayers, including individuals, pensioners, professionals, and others, to file their income tax returns (ITR) using applicable forms on or before July 31, 2026.
The forms are notified in accordance with changes that are being introduced in new Income Tax Act. ITR-V (verification form) and ITR-U (updated return form) have also been notified.
Meanwhile, the deadline for most individual taxpayers to submit income tax returns is July 31.
File ITR-1- Who Needs To File
An individual who earns up to Rs 50 lakh from salary, pension, interest and other sources should pick ITR-1 to file an income tax return.
This form does not apply to those who earn income from business or profession, own more than one house property and have capital gains above certain limits.
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If you own foreign assets and your total income is more than Rs 50 lakh, then the Income Tax Form (ITR-1) does not apply to you.
Who Should Choose ITR-2?
Individuals and Hindu Undivided Families (HUFs) who do not earn income from business or profession.
This form is for those who have capital gains income, owners of more than one house property, foreign income or assets. Non-Resident Indians (NRIs) are also required to file their income tax return along with Form ITR-2.
ITR-3
Individuals and Hindu Joint Families (HUFs) earning an income of more than Rs. 50 lakhs from their own business or profession.
Income Tax Return Form (ITR-3) applies to taxpayers maintaining regular books of account.
Eligibility to file ITR-4
Resident individuals, HUFs and firms with total income up to Rs 50 lakh. A person having income from salary or pension, one house property, and other sources should opt for ITR-4, which is also known as Sugam.
ITR 5,6, and 7
ITR-5, 6, and 7 are tax forms for non-individual entities in India.
Income Tax Return 5 (ITR 5) - Partnerships, Limited Liability Partnerships, Cooperative Societies and Associations of Persons (AOP).
ITR-6: Companies cannot claim exemption for charitable or religious purposes.
ITR-7: Organisations required to file under section 139, which includes charitable or religious trusts, political parties and scientific research institutions.
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ITR-U and ITRV
The revised ITR-U form provides an opportunity for taxpayers to correct errors or omissions in their previously filed income tax returns. Meanwhile, ITR-V (Income Tax Return Verification) is an acknowledgement form generated after filing your income tax return.
The same needs to be verified within 30 days of filing to be considered valid.