ITR Filing FY 2025-26: Complete Guide, Due Dates, Forms & Step-by-Step Process (AY 2026-27)
With 31 July 2026 approaching fast, millions of Indian taxpayers are preparing to file their Income Tax Return (ITR) for FY 2025-26 (Assessment Year 2026-27). Whether you are a salaried professional, freelancer, business owner, or investor, understanding the correct ITR filing process is not just a legal obligation — it determines your refunds, your financial credibility, and your protection from costly penalties. This comprehensive guide covers everything you need to know about ITR filing for FY 2025-26: due dates for every taxpayer category, which form to choose, the new vs old tax regime comparison, the step-by-step online filing process, documents required, consequences of missing the deadline, and 8 critical mistakes to avoid. Read this once and file your return with complete confidence.
📋 Table of Contents
- What Is Income Tax Return (ITR) Filing?
- ITR Filing Due Dates for FY 2025-26 — All Categories
- Which ITR Form Should You Use? (FY 2025-26)
- Old vs New Tax Regime — Which Is Better for AY 2026-27?
- Documents Required for ITR Filing FY 2025-26
- Step-by-Step Process to File ITR Online for FY 2025-26
- Penalties for Late ITR Filing — Sections 234A, 234F & More
- Belated Return, Revised Return & ITR-U Explained
- 8 Critical Mistakes to Avoid While Filing ITR
- Case Study: Real Filing Scenarios for FY 2025-26
- Key Takeaways
- Frequently Asked Questions
- Conclusion
1. What Is Income Tax Return (ITR) Filing?
An Income Tax Return (ITR) is a prescribed form through which a taxpayer declares to the Income Tax Department their total income earned, the taxes paid thereon, and any claim for refund of excess tax deducted during a financial year. The ITR for FY 2025-26 covers income earned between 1 April 2025 and 31 March 2026, and is filed for Assessment Year (AY) 2026-27. Filing ITR is governed by Section 139 of the Income Tax Act, 1961. While many taxpayers assume that filing is only necessary if income crosses the taxable threshold, the law specifies several additional criteria that make filing mandatory regardless of income level. Mandatory filing applies to you if any of the following conditions are met in FY 2025-26:- Your gross total income exceeds the basic exemption limit (₹3 lakh under old regime; ₹4 lakh under new regime)
- Total sales or turnover from business exceeds ₹60 lakh
- Gross receipts from profession exceed ₹10 lakh
- Aggregate TDS and TCS deducted during the year exceeds ₹25,000 (₹50,000 for senior citizens)
- Deposits in one or more savings bank accounts exceed ₹50 lakh during the year
- Foreign travel expenditure exceeds ₹2 lakh
- Electricity consumption expenditure exceeds ₹1 lakh
- You hold a foreign asset or signing authority over a foreign account
- You wish to carry forward any loss to the next financial year
- You wish to claim a refund of excess TDS deducted
2. ITR Filing Due Dates for FY 2025-26 — All Categories
One of the most critical aspects of ITR filing for FY 2025-26 is knowing your specific deadline. The due date varies based on your taxpayer category and whether a tax audit is required.| Taxpayer Category | Applicable ITR Form | Due Date (AY 2026-27) |
|---|---|---|
| Salaried individuals, pensioners, HUFs (no business income, no audit) | ITR-1 or ITR-2 | 31 July 2026 |
| Individuals/HUFs with business or profession income (no audit required) | ITR-3 or ITR-4 | 31 August 2026 |
| Taxpayers requiring tax audit under Section 44AB | ITR-3, ITR-5, ITR-6 | 31 October 2026 |
| Companies (all) | ITR-6 | 31 October 2026 |
| Entities requiring transfer pricing report (Section 92E) | ITR-3, ITR-5, ITR-6 | 30 November 2026 |
| Belated return (if original deadline missed) | Any applicable form | 31 December 2026 |
| Revised return (to correct errors in original ITR) | Any applicable form | 31 December 2026 |
| Updated return (ITR-U) for unreported income | ITR-U | 31 March 2031 (48 months) |
⚡ Pro Tip: For FY 2024-25 (AY 2025-26), CBDT had extended the deadline to 15 September 2025 due to structural changes in ITR forms. For FY 2025-26 (AY 2026-27), the standard dates above apply unless a fresh extension notification is issued by CBDT. Always verify on incometax.gov.in closer to the deadline.
Important: The Tax Audit Report Deadline
If your case is subject to a tax audit under Section 44AB, the Chartered Accountant’s audit report (Form 3CA/3CB/3CD) must be submitted at least one month before the ITR due date. For AY 2026-27, this means the audit report must be filed by 30 September 2026 for most audit cases.3. Which ITR Form Should You Use for FY 2025-26?
Choosing the wrong ITR form can render your return defective under Section 139(9), requiring a correction within the time allowed by the Income Tax Department. Here is a definitive guide to selecting the correct form.ITR-1 (Sahaj) — The Simplest Form
Who can use it: Resident individuals with total income up to ₹50 lakh from:- Salary or pension
- One house property (not carried forward losses)
- Other sources (bank interest, family pension)
- Agricultural income up to ₹5,000
ITR-2 — For Capital Gains and Multiple Properties
Who should use it: Individuals and HUFs with:- Capital gains from sale of shares, mutual funds, property
- More than one house property
- Foreign income or foreign assets
- Agricultural income exceeding ₹5,000
- Directorship in a company
- Total income exceeding ₹50 lakh
ITR-3 — For Business and Professional Income
Who should use it: Individuals and HUFs deriving income from a proprietary business or profession. This includes traders, consultants, doctors, lawyers, and chartered accountants maintaining regular books of accounts.ITR-4 (Sugam) — For Presumptive Taxation
Who should use it: Individuals, HUFs, and firms (other than LLP) opting for presumptive income under:- Section 44AD — Business income presumed at 8% (or 6% for digital receipts) of turnover up to ₹3 crore
- Section 44ADA — Professional income presumed at 50% of gross receipts up to ₹75 lakh
- Section 44AE — Income from goods carriage vehicles
| ITR Form | Income Type | Who Applies | Income Limit |
|---|---|---|---|
| ITR-1 | Salary, 1 HP, Other | Resident Individual | Up to ₹50 lakh |
| ITR-2 | Capital gains, Foreign, Multiple HP | Individual/HUF | No limit |
| ITR-3 | Business/Profession (regular books) | Individual/HUF | No limit |
| ITR-4 | Presumptive Business/Profession | Individual/HUF/Firm | Business ≤ ₹3Cr; Prof ≤ ₹75L |
| ITR-5 | All income heads | LLP, AOP, BOI, Firms | No limit |
| ITR-6 | All income heads | Companies (not Sec 11) | No limit |
| ITR-7 | Charitable/Religious trust income | Sec 139(4A)-(4F) entities | No limit |
4. Old vs New Tax Regime — Which Is Better for AY 2026-27?
The choice between the old tax regime and the new tax regime is arguably the most impactful decision you will make in your ITR filing for FY 2025-26. The new regime is now the default regime — you must actively opt for the old regime if it benefits you more.New Tax Regime Slabs for FY 2025-26
| Annual Income | New Regime Tax Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Old Tax Regime Slabs for FY 2025-26
| Annual Income | Old Regime Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
🎯 Expert Insight: For a salaried individual earning ₹15 lakh with ₹1.5 lakh in 80C investments, ₹25,000 in health insurance (80D), and ₹2 lakh home loan interest, the old regime saves approximately ₹40,000 more in tax compared to the new regime. Always run both calculations before deciding. Use our tax advisory service if you need personalised assistance.
5. Documents Required for ITR Filing FY 2025-26
Preparing your documents in advance is the single biggest time-saver in the ITR filing process. Here is a comprehensive checklist:For Salaried Individuals
- Form 16 (Part A and Part B) — issued by your employer, typically by 15 June each year
- Form 26AS — tax credit statement available on the income tax portal
- Annual Information Statement (AIS) — downloaded from incometax.gov.in, reflects all financial transactions
- Bank account statements for the full financial year
- Salary slips (if Form 16 is unavailable or incomplete)
For Deductions and Exemptions
- Section 80C proofs — LIC premium receipts, PPF passbook, ELSS investment statements, principal repayment certificate
- Section 80D proofs — health insurance premium receipts
- Home loan interest certificate from the bank (for Section 24b and 80EEA)
- Rent receipts and landlord PAN (if annual rent exceeds ₹1 lakh) for HRA
- Section 80G donation receipts (for charitable contributions)
- NPS contribution statement (for Section 80CCD)
For Capital Gains
- Capital gains statement from your broker (Zerodha, Angel One, ICICI Direct, etc.)
- Mutual fund capital gains statement from AMC or CAMS/KFintech
- Property sale deed and purchase deed with indexed cost calculation
- Form 26AS reflecting TDS on property sale (if applicable)
For Business and Professional Income
- Books of accounts — Cash Book, Ledger, Balance Sheet, P&L Account
- GST returns filed (GSTR-1, GSTR-3B) for cross-verification
- Tax audit report Form 3CA/3CB/3CD (if applicable)
- TDS certificates received (Form 16A) from clients
⚡ Pro Tip: Always reconcile your AIS with your actual income before filing. The AIS captures information from banks, brokers, mutual funds, and other reporting entities. Any unexplained discrepancy can trigger a scrutiny notice from the Income Tax Department. Learn more about TDS provisions and Form 26AS on our blog.
6. Step-by-Step Process to File ITR Online for FY 2025-26
The Income Tax Department has made online ITR filing increasingly user-friendly through the e-filing portal at incometax.gov.in. Here is the complete step-by-step process for AY 2026-27:1
Login to the e-filing portal — Visit incometax.gov.in. Login using your PAN as User ID and your registered password. If you are a first-time user, register using your PAN, Aadhaar number, and mobile number linked to Aadhaar.
2
Check your AIS and Form 26AS — Before starting the ITR, download your Annual Information Statement (AIS) and Form 26AS from the portal. Verify that TDS credits, interest income, dividend income, and other transactions match your own records. Raise a feedback in AIS if you spot errors.
3
Navigate to e-File → Income Tax Returns → File ITR — Select Assessment Year 2026-27 for income earned in FY 2025-26. Choose the filing mode — Online (recommended) or Offline (JSON upload).
4
Select the correct ITR form — Based on your income sources, select ITR-1, ITR-2, ITR-3, or ITR-4. If unsure, use the “Help Me Decide” feature on the portal which guides you through a questionnaire.
5
Choose your tax regime — The portal will show both old and new regime tax computations. Select the regime that results in lower tax liability. Salaried individuals can change this every year. Business taxpayers who have opted for the old regime earlier should note the restrictions on switching.
6
Review pre-filled data and enter income details — The portal pre-fills salary, TDS, and some investment data. Carefully review every figure. Add income from house property, capital gains, business, and other sources manually as required. Enter all eligible deductions under Chapter VIA.
7
Compute tax liability and pay if due — After entering all details, the system computes your tax liability. If tax is payable (after deducting TDS, advance tax, and self-assessment tax paid), pay via Challan 280 on the portal itself using net banking or UPI. Enter the BSR code and challan number in the return.
8
Submit the ITR — Review the full return summary, verify all figures, and click Submit. The ITR is now uploaded on the server.
9
E-Verify within 30 days — This is critical. An unverified return is treated as not filed. E-verify using: (a) Aadhaar OTP, (b) Net banking login, (c) Bank account validation, (d) Demat account EVC, or (e) Digital Signature Certificate (DSC). Physical verification by sending ITR-V to CPC Bengaluru is also accepted.
⚠️ Important: E-verification must be completed within 30 days of filing the return. If not e-verified in this window, your return will be treated as never filed, and penalties for late filing will apply from the original due date.
7. Penalties for Late ITR Filing — Sections 234A, 234F & More
Missing the ITR filing deadline carries serious financial consequences. Understanding these penalties is crucial for every taxpayer filing their ITR for FY 2025-26.Section 234F — Late Filing Fee
This is a flat fee for filing the return after the due date:| Total Income | Late Filing Fee | Applicable From |
|---|---|---|
| Up to ₹5 lakh | ₹1,000 | Day after due date |
| Above ₹5 lakh | ₹5,000 | Day after due date |
| Below basic exemption limit | Nil (but return is still belated) | — |
Section 234A — Interest on Delayed Filing
If any tax is outstanding (unpaid) at the time of filing, interest at 1% per month (or part of month) is levied under Section 234A from the original due date until the actual date of filing. This interest is calculated on the net tax payable after TDS, advance tax, and self-assessment tax. Example: Rahul has ₹50,000 outstanding tax liability for FY 2025-26. He files his ITR on 30 September 2026 (2 months late from the 31 July 2026 deadline). Section 234A interest = 1% × 2 months × ₹50,000 = ₹1,000 additional interest payable.Section 234B and 234C — Advance Tax Defaults
- Section 234B: 1% per month interest if advance tax paid during the year is less than 90% of the final tax assessed
- Section 234C: 1% per quarter interest for shortfall in each installment of advance tax (due June 15, September 15, December 15, March 15)
Consequences Beyond Financial Penalties
Late or non-filing of ITR carries additional consequences that are often overlooked:- Loss carry forward denied: Capital losses, business losses (except house property loss) cannot be carried to the next year if ITR is filed after the due date
- Scrutiny risk increases: Late filers are more likely to receive notices under Section 143(2) for scrutiny assessment
- Prosecution: Wilful non-filing can attract prosecution under Section 276CC, carrying imprisonment up to 7 years for tax evasion above ₹25 lakh
8. Belated Return, Revised Return & ITR-U Explained
Even if you miss the original ITR filing due date for FY 2025-26, the law provides multiple options to regularise your compliance.Belated Return — Section 139(4)
A belated return can be filed if you miss the original due date. For FY 2025-26 (AY 2026-27), the belated return deadline is 31 December 2026. The late filing fee under Section 234F and applicable interest under Section 234A apply on a belated return.Revised Return — Section 139(5)
If you have already filed the return but discover an error — missed income, incorrect deduction claimed, wrong bank account, or any other mistake — you can file a revised return. For FY 2025-26 (AY 2026-27), the revised return can be filed up to 31 December 2026. There is no penalty for filing a revised return.Updated Return (ITR-U) — Section 139(8A)
ITR-U was introduced as a mechanism to voluntarily disclose unreported income without waiting for a tax department notice. For FY 2025-26 (AY 2026-27), ITR-U can be filed up to 31 March 2031 (48 months from end of AY). Additional tax under ITR-U:- Filed within 12 months from end of assessment year: 25% additional tax on incremental tax + interest
- Filed after 12 months but within 24 months: 50% additional tax
- Filed after 24 months: 60% additional tax (as per Budget 2026 amendment)
🎯 Expert Insight: ITR-U cannot be used to claim a refund or to reduce tax liability. It is specifically for taxpayers who want to report additional income that was not disclosed in the original or belated return. If you suspect you have missed reporting any income, filing ITR-U proactively before a notice arrives reduces the risk of penalty under Section 270A significantly.
9. 8 Critical Mistakes to Avoid While Filing ITR for FY 2025-26
Even experienced taxpayers make costly errors in their ITR filing for FY 2025-26. Here are the eight mistakes that most commonly lead to notices, penalties, and delayed refunds.- Not reconciling AIS before filing: The Annual Information Statement captures data from banks, mutual funds, brokers, and employers. If your return does not match AIS, the Income Tax Department’s automated systems flag discrepancies instantly, often resulting in a demand notice or refund hold.
- Choosing the wrong ITR form: Filing ITR-1 when you should have filed ITR-2 (because you have capital gains or more than one house property) makes the return defective. The department sends a notice under Section 139(9) requiring correction within 15 days.
- Forgetting to report all bank accounts: All savings and current bank accounts held during FY 2025-26 must be disclosed in ITR, even zero-balance accounts. Failure to report can be treated as concealment of information.
- Missing freelance or side income: Income from freelancing platforms, YouTube, Instagram monetisation, coaching classes, or any other source is taxable. Many taxpayers report only salary and miss professional income, leading to demand notices.
- Not reporting exempt income: While exempt income (like PPF interest, LTCG up to ₹1.25 lakh, Aadhaar-linked insurance payout) is not taxable, it must still be disclosed in the ITR under the exempt income section. Non-disclosure can raise red flags.
- Claiming wrong deductions: Claiming Section 80C deductions under the new tax regime (where they are not available), or claiming deductions without supporting documents, is a common error that attracts scrutiny.
- Forgetting to e-verify: Filing the ITR without completing e-verification within 30 days means the return is treated as invalid. This is one of the most frequent and easily avoidable mistakes.
- Not reporting foreign assets or foreign income: Schedule FA in ITR requires disclosure of foreign bank accounts, foreign stocks, and foreign property held even for a single day during the year. Non-disclosure attracts penalties under the Black Money Act, 2015, which can reach up to three times the value of undisclosed foreign assets.
10. Case Studies — Real ITR Filing Scenarios for FY 2025-26
Case Study 1: Priya — Salaried Software Engineer, Bengaluru
Priya earns ₹18 lakh annually from her employer. She has ₹1.5 lakh in 80C (ELSS and PPF), ₹25,000 in health insurance for self and parents (80D), and pays ₹1.8 lakh as home loan interest annually. Old Regime calculation: – Gross salary: ₹18,00,000 – Standard deduction: ₹50,000 – Section 80C: ₹1,50,000 – Section 80D: ₹25,000 (self ₹10,000 + parents ₹15,000) – Home loan interest (Sec 24b): ₹1,80,000 (capped at ₹2 lakh) – Taxable income: ₹13,95,000 – Tax payable (old regime): approximately ₹2,18,500 New Regime calculation: – Gross salary: ₹18,00,000 – Standard deduction: ₹75,000 – Taxable income: ₹17,25,000 – Tax payable (new regime): approximately ₹2,63,750 Verdict: Priya saves approximately ₹45,250 in tax by opting for the old regime. She should file ITR-1 before 31 July 2026 and opt out of the new regime.Case Study 2: Ramesh — Freelance Graphic Designer, Pune
Ramesh earns ₹9 lakh from clients (gross receipts from profession). He has no significant investments or home loan. He opts for presumptive taxation under Section 44ADA. Under 44ADA, 50% of gross receipts (₹4,50,000) is presumed as income. Since this is below ₹7,00,000 (with the new regime rebate), his effective tax under the new regime is nil after the Section 87A rebate (up to ₹7 lakh rebate). He should file ITR-4 before 31 August 2026. Important note: Ramesh must have gross receipts below ₹75 lakh to remain eligible for Section 44ADA presumptive taxation.
⚡ Pro Tip: Taxpayers with income from multiple sources — salary, freelancing, capital gains, and rental income — often make the mistake of filing ITR-1. This is invalid. Such taxpayers should use ITR-2 or ITR-3 depending on whether they maintain books of accounts. If in doubt, consult our expert CA team at ClearTax Advisors before filing.
📌 Key Takeaways — ITR Filing FY 2025-26
- Due date: 31 July 2026 for salaried (ITR-1/ITR-2); 31 August 2026 for business without audit (ITR-3/ITR-4); 31 October 2026 for audit cases
- New tax regime is the default — actively opt for old regime if deductions make it beneficial
- Income up to ₹12.75 lakh is effectively tax-free for salaried individuals under the new regime (Section 87A rebate + ₹75,000 standard deduction)
- Always reconcile AIS with your income before filing to avoid discrepancy notices
- E-verify within 30 days — an unverified return is treated as never filed
- Belated return deadline: 31 December 2026 — after this, only ITR-U is available
- ITR-U can be filed up to 31 March 2031 but attracts 25%-60% additional tax and cannot be used to claim refunds
- Late filing results in loss carry-forward being denied — time-sensitive for investors with capital losses
Frequently Asked Questions — ITR Filing FY 2025-26
Q1. What is the due date for ITR filing FY 2025-26?
For FY 2025-26 (AY 2026-27), the ITR filing due date is 31 July 2026 for salaried individuals and non-audit taxpayers filing ITR-1 and ITR-2. For business and professional taxpayers not requiring audit (ITR-3 and ITR-4), the due date is 31 August 2026. For taxpayers requiring a tax audit, the due date is 31 October 2026. The belated return deadline is 31 December 2026.
Q2. Which ITR form should I use for FY 2025-26?
Use ITR-1 if you are a salaried individual with income up to ₹50 lakh from salary, one house property, and other sources. Use ITR-2 if you have capital gains, multiple house properties, or foreign assets. Use ITR-3 for business or professional income with regular books of accounts. Use ITR-4 if you opt for presumptive taxation under Sections 44AD, 44ADA, or 44AE.
Q3. Can I switch between old and new tax regime while filing ITR for FY 2025-26?
Salaried individuals (without business income) can switch between old and new tax regime every year at the time of filing ITR. However, individuals with business or professional income can switch from old to new regime only once, and cannot switch back thereafter without specific conditions being met.
Q4. What is the penalty for late ITR filing for FY 2025-26?
Under Section 234F, a late filing fee of ₹5,000 applies if total income exceeds ₹5 lakh. If income is below ₹5 lakh, the fee is ₹1,000. Additionally, interest under Section 234A at 1% per month on unpaid tax applies from the due date until actual filing. Losses (other than house property losses) cannot be carried forward if the return is filed after the due date.
Q5. What is ITR-U and when can it be filed for FY 2025-26?
ITR-U (Updated Return) under Section 139(8A) allows taxpayers to correct omissions or errors. For FY 2025-26 (AY 2026-27), ITR-U can be filed up to 31 March 2031 (48 months from end of assessment year). Additional tax ranging from 25% to 60% on the incremental tax and interest is payable. ITR-U cannot be used to claim refunds or to reduce tax liability.
Q6. Is ITR filing mandatory if my income is below the exemption limit?
Even if income is below the basic exemption limit, ITR filing is mandatory if your total sales/turnover exceeds ₹60 lakh, professional gross receipts exceed ₹10 lakh, TDS/TCS deducted during the year exceeds ₹25,000 (₹50,000 for senior citizens), or deposits in savings accounts exceed ₹50 lakh during FY 2025-26.
Q7. What documents are required for ITR filing FY 2025-26?
Key documents include: Form 16 from your employer, Form 26AS and Annual Information Statement (AIS) from the income tax portal, bank statements, investment proofs for 80C/80D deductions, home loan interest certificate for Section 24(b), capital gains statement from your broker or AMC, and your Aadhaar linked to PAN. For business taxpayers, books of accounts and GST return filings are also required for cross-verification.
Q8. What happens if I file ITR after 31 December 2026?
If both the original (31 July/31 August/31 October 2026) and belated (31 December 2026) deadlines are missed, you can file an Updated Return (ITR-U) under Section 139(8A) up to 31 March 2031. However, you cannot claim refunds or carry forward losses through ITR-U, and additional tax of 25%-60% on incremental tax applies. The longer you delay, the higher the additional tax surcharge.
Conclusion
ITR filing for FY 2025-26 is not merely a compliance checkbox — it is a financial act that determines your refunds, your ability to carry forward losses, your loan eligibility, and your long-term financial credibility. With the 31 July 2026 deadline fast approaching, the time to prepare is right now. Start by downloading your AIS and Form 26AS, reconcile all transactions, gather your Form 16 and investment proofs, and make the critical decision between old and new tax regime after a thorough comparison. Choose the correct ITR form, file online at incometax.gov.in, and most importantly — e-verify within 30 days of submission. For complex situations involving capital gains, multiple income sources, business income, or foreign assets, it is always advisable to seek professional guidance. Filing an incorrect return or missing a disclosure can cost far more in penalties and interest than the cost of expert advice. If you need personalised assistance with your ITR filing for FY 2025-26 or tax planning under the new vs old regime, our expert CA team at ClearTax Advisors is here to help. You can also explore our related guides on 15 proven income tax saving tips for FY 2025-26 and our comprehensive TDS guide to ensure you enter the filing season fully prepared.Watch: Step-by-step video guide for ITR filing FY 2025-26 — replace this embed with your own YouTube tutorial video URL
📞 Need Help Filing Your ITR for FY 2025-26?
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Get Expert ITR Filing Help →Useful Official Resources
- Income Tax Department of India — incometaxindia.gov.in
- Income Tax e-Filing Portal — incometax.gov.in
- Reserve Bank of India — rbi.org.in
Disclaimer: This article is intended for general educational and informational purposes only and does not constitute professional tax or legal advice. Tax laws are subject to change and individual circumstances vary. The information is based on provisions of the Income Tax Act, 1961 and CBDT notifications available as of April 2026. Readers are strongly advised to consult a qualified Chartered Accountant or tax professional for advice specific to their financial situation before filing their Income Tax Return.