1. What are the key provisions relating to filing of return of income under the Income Tax Act, 2025?
The provisions relating to filing of return of income are contained in Section 263 of the Income Tax Act, 2025. Section 263 contains the provisions for original return (sub-section 1), belated return (sub-section 4), revised return (sub-section 5), and updated return (sub-section 6) into one unified section. The fundamental structure- mandatory filing, due dates, categories of persons obligated to file-remains the same as that under the old Act .
2. Is there any change in the obligation to file return of income under the new Act — i.e. which persons must mandatorily file a return?
Section 263(1) of the new Act prescribes the categories of persons who must mandatorily file a return. These categories are broadly the same as that under the old Act.
3. Will taxpayers be required to file two returns (for AY 2026 -27 as well as TY 2026 -27) during the transition year (FY 2026 -27)?
No. The obligation to file the return for the Tax Year 2026 -27 will arise after the end of the Tax Year and it is similar to the framework existing in Income Tax Act, 1961.
4. Under which Act will the ITR for income earned during FY 2025 -26 be filed?
The ITR for income earned during FY 2025 -26 will be filed for Assessment Year 2026 -27 under the provisions of the Income Tax Act, 1961. Even though the filing will typically occur after 1st April, 2026 (i.e., after the new Act has come into force), the return relates to a tax year beginning before 1st April, 2026 and is therefore governed entirely by the old Act.
5. Which ITR form should be used for AY 2026 -27?
For AY 2026 -27, the ITR forms (ITR -1, ITR -2, ITR -3, ITR -4, ITR -5, ITR -6, ITR -7) applicable under the Income Tax Act, 1961 will soon be notified. These forms will be available on the e -filing portal well before the due date. Taxpayers should select AY 2026 -27 while filing the ITR for income earned during FY 2025 -26.
6. If a taxpayer discovers an error in the ITR filed for AY 2026 -27 and wishes to file a revised return, which Act governs the revision?
The revised return for AY 2026 -27 will be governed by the Income Tax Act, 1961. Under Section 139(5) of the old Act, a revised return can be filed before the expiry of the relevant assessment year (i.e., before 31st March *, 2027 for AY 2026 -27) o r before completion of assessment, whichever is earlier. The fact that the revision is being done after 01.04.2026 does not change the applicable Act. The old Act will continue to govern all filings relating to AY 2026 -27 and earlier years.
(* as proposed in the Finance Bill, 2026)
7. What is the last date to file a belated return for AY 2026 -27 under the old Act?
Pursuant to Section 139(4) of the Income Tax Act, 1961, a belated return for Assessment Year (AY) 2026 –27 may be furnished on or before 31st December 2026, or prior to the completion of the assessment, whichever occurs earlier.
Further, in accordance with Section 234F of the Act, a fee for delayed filing shall be levied at ₹1,000 where the total income does not exceed ₹5,00,000, and ₹5,000 in all other cases.
8. Can a taxpayer file an updated return (ITR -U) for AY 2026 -27 under the old Act after the new Act comes into force?
Yes. The updated return for AY 2026 -27 under Section 139(8A) of the old Act can be filed within the time period prescribed therein, even after the new Act has come into force. The old Act continues to govern all proceedings relating to tax years before 1st April, 2026.
Example: Mr. X filed his original ITR for AY 2026 -27 on 25th July, 2026. In January 2028, he discovers additional income that was not reported. He can file an updated return (ITR -U) for AY 2026 -27 under the old Act, subject to the time limits and additional tax requirem ents prescribed in Section 139(8A) of the old Act.
9. Can revised/belated/updated returns for AY 2025 -26 or earlier years be filed on or after 1st April, 2026?
The time for filing revised or belated return for AY 2025 -26 or an earlier assessment year will expire before 1st April, 2026. Therefore, revised/belated return for AY 2025 -26 or an earlier assessment year, cannot be filed after 1st April, 2026. However, a taxpayer may still file his updated return (ITR -U), subject to the time limits prescribed under Section 139(8A) of the old Act.
10. Which ITR forms will be used for filing returns of earlier assessment years after 01.04.2026?
The ITR forms applicable under the old Act for the respective assessment year will continue to be used. The e -filing portal will continue to support old forms for earlier assessment years even after the new Act comes into force.
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