Government Notifies All ITR Forms for Assessment Year 2026-27

The government has officially notified Income Tax Return (ITR) forms, from ITR-1 to ITR-7, for the Assessment Year (AY) 2026-27, signaling the start of the ITR filing season. This enables individuals, pensioners, professionals, and other taxpayers to file their income tax returns on or before the general deadline of July 31, 2026.

Key Amendment for ITR-1 Filers: Multiple House Property Income

A notable and welcome change has been introduced for ITR-1 (Sahaj) filers. Previously, ITR-1 was restricted to individuals with income from only one house property. Under the new notification, individuals with income from 'two house properties' are now eligible to file ITR-1, simplifying the process for many taxpayers who would otherwise have to opt for more detailed forms like ITR-2 or ITR-3.

Eligibility and Restrictions for ITR-1

Despite the expanded scope, ITR-1 (Sahaj) remains a simplified form and is not applicable to all taxpayers. Individuals with the following income sources are still ineligible to file ITR-1:

• Profits and gains from business and professions.
• Short-term Capital Gains.
• Long-term Capital Gains exceeding Rs. 1.25 lakhs under Section 112A.
• Income from more than two house properties.
• Specific 'other sources' income, such as winnings from lotteries, income from owning and maintaining race horses, or income taxable at special rates under sections 115BBDA or 115BBE.
• Income to be apportioned in accordance with provisions of section 5A.

Who Should File ITR-2?

ITR-2 is designed for individuals or Hindu Undivided Families (HUFs) who are not eligible for ITR-1 and do not have income from profits and gains of business or profession. This includes individuals with capital gains, income from more than two house properties, or other specific income not covered by ITR-1.