Tax Filing: ITR-1 to ITR 7 Forms Released for AY 2026-27
On March 30, 2026, the Indian government introduced new Income Tax Return (ITR) forms, specifically ITR-1 through ITR-7, for the Assessment Year 2026–27.
These forms are available for various categories of taxpayers, including individuals, pensioners, and professionals. Taxpayers are encouraged to use the relevant forms to submit their returns by the deadline of July 31, 2026.
In the past, taxpayers could only report income from a single property using ITR-1, which required those with multiple properties to file the more complex ITR-2 or ITR-3 forms. This update simplifies the filing process, making it easier for taxpayers to report their income from additional properties through the more straightforward ITR-1 form.
Who Is Eligible to File ITR-1?
Let’s look at some key types of income that cannot be reported in the Income Tax Return (ITR-1) form.
- For example, income from business or professional activities.
- Income from Short-Term Capital Gains
- Income from long-term capital gains under Section 112A above ₹1.25 lakh.
- Income from more than one residential property
- Income falling under the head “Other Sources” in the following categories:
- (i) Income from Lottery Winnings
- (ii) Racehorse Ownership and Maintenance Activities
- (iii) Income falling under special taxation provisions of Sections 115BBDA or 115BBE.
- (iv) Income required to be apportioned as per Section 5A provisions.
Who Can File ITR-2?
ITR-2 can be filed by individuals or Hindu Undivided Families (HUFs) who
- Who Are Not Eligible for ITR-1 (Sahaj)?
- In situations where taxpayers do not earn income from business or professional activities, as well as from any associated profits and gains, it is important to understand the implications for their tax obligations.
- interest
- salary
- Bonus
- Any commission or remuneration, regardless of its designation, received or receivable from a partnership firm.
- Have income of another person, such as a spouse or minor child, that is required to be clubbed with their income, if such income falls under any of the above categories.
Read Also: Income-Tax Forms Set for Revision Under Draft Rules 2026
Who Cannot File ITR-2?
- Individuals and Hindu Undivided Families (HUFs) cannot use Form ITR-2 to file their income tax return if their total income includes profits and gains derived from a business or profession. Additionally, this form is not applicable to the income of certain specified categories.
- Interest
- salary
- bonus
- Any commission or payment, regardless of its name, received or receivable from a partnership firm.