India’s revised income tax return (ITR) forms for Assessment Year 2026-27 introduce wider disclosure requirements while easing certain reporting procedures under the updated tax framework.
The Central Board of Direct Taxes (CBDT) has revised ITR-1 to ITR-4 forms, affecting salaried employees, investors, professionals and businesses as part of efforts to strengthen digital and data-driven tax compliance.
The updated forms seek additional contact and residential information from taxpayers, including expanded address-related disclosures aimed at improving verification and scrutiny processes.
ITR-1 (Sahaj) now permits reporting of income from up to two house properties, compared with one earlier. Taxpayers are also required to furnish additional property-related details, including addresses, ownership shares, co-owner information and tenant particulars, where applicable.
ITR-2 streamlines capital gains reporting by removing the earlier requirement to separately disclose gains earned before and after July 23, 2024, following changes introduced in the 2024 Union Budget. The form also seeks more detailed reporting on donations, political contributions and interest income.
ITR-3 introduces separate reporting for Futures and Options (F&O) trading turnover, along with expanded disclosures relating to political donations and tax regime selection.
ITR-4 (Sugam) expands disclosure requirements for presumptive taxpayers, including additional reporting relating to bank accounts and certain financial particulars.
The revised forms are part of the government’s broader push towards technology-enabled and data-linked tax administration while simplifying compliance requirements in select areas.
Disclaimer: Readers should verify details from official CBDT sources or consult a tax expert before filing income tax returns. This article is for informational purposes only.
