– Advertisement –

The central government has shared a major update for all taxpayers. Specifically, the ITR forms for Assessment Year (AY) 2026-27 will not change. While a new tax law starts on April 1, 2026, the old forms will still work. Therefore, you do not need to learn a new filing system this year. Currently, the board wants to make the shift to the new law very slow and easy.

Add rightsofemployees.com as a Preferred Source

Add rightsofemployees.comas a Preferred Source


whatsappfollow

Why Are the Forms Staying the Same?

The government wants to help people transition to the Income Tax Act, 2025. Specifically, they decided that the current ITR-1 to ITR-7 forms are still best for now. Instead of a sudden change, the new rules will roll out in small steps. Furthermore, this move ensures that the 9 crore people who file returns face zero confusion in 2026.

What Changes in 2027?

While 2026 is stable, the real shift starts in 2027. Specifically, the tax department will start using a new data-sharing system then. Therefore, banks and crypto exchanges will have to report more details. Actually, the goal is to find the 3 crore people who pay tax but do not file a return. Meanwhile, the department will focus on “Smart Forms” that fill themselves using your saved data.

Key Points for Taxpayers

  • New Act: The Income Tax Act, 2025 technically starts on April 1.

  • Old Forms: You will still use the 1961 Act forms for the upcoming season.

  • Gradual Shift: Major reporting changes for crypto and digital assets start from 2027.

  • Compliance: The focus remains on making filing easy rather than harder.ITR Forms AY 2026-27

Summary: Filing Status for AY 2026-27

Feature Status for AY 2026-27 Expected Change Year
ITR Forms No Change 2027-28
Filing Portal Same (e-Filing) Continuous Updates
Data Sharing Existing Framework 2027
Tax Slabs As per Finance Act 2025 Yearly Review

LATEST :- 

Add rightsofemployees.com as a Preferred Source

Add rightsofemployees.com as a Preferred Source


whatsappfollow

– Advertisement –

#Change #ITR #Forms #CBDT #Report #WhoWiki.org

Leave a Reply

Your email address will not be published. Required fields are marked *