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“The caller Income Tax returns (ITR) form, based connected the I-T Act 2025, volition beryllium notified anterior to 2027-28 fiscal year,” Minister of State for Finance Pankaj Chaudhary said connected Monday (December 8, 2025).
“The CBDT committee connected simplification of ITR forms is carrying retired extended consultations with taxation experts, organization bodies, and tract formations of the I-T Department,” helium said successful a written reply successful the Lok Sabha.
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The Income Tax Act, 2025, enacted connected August 21, volition travel into effect from adjacent fiscal year, opening April 1, 2026.
The caller Act volition regenerate the existing Income Tax Act, 1961, and marque taxation laws elemental and trim wordage successful the authorities making it casual to understand.
All the antithetic forms applicable nether the Income Tax Act, specified arsenic Tax Deducted astatine Source (TDS) quarterly instrumentality signifier and ITR forms, are being reworked, and the Directorate of Systems is moving with the taxation argumentation part to marque the forms taxpayer-friendly.
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"ITR forms relating to Income Tax Act, 2025, volition necessitate the changes successful effect of amendments to the said Act made during Budget, 2026, and, accordingly, ITRs pertaining to the archetypal tax-year 2026-27 shall beryllium notified anterior to FY 2027-28," Mr. Chaudhary said.
With respect to ITR forms for income earned successful existent fiscal (Assessment Year 2026-27), Mr. Chaudhary said consolidation and simplification of the ITR forms are successful process arsenic they volition beryllium notified arsenic per provisions of Income Tax Act, 1961.
