The Income Tax Department has officially rolled out all Income Tax Return (ITR) forms for Assessment Year 2026-27, paving the way for taxpayers to begin preparing their filings for FY 2025-26. While ITR-1 to ITR-4 were notified earlier on 30 March, the remaining forms, ITR-2, ITR-3, ITR-5, ITR-6, ITR-7 and ITR-U, were issued on 12 May. With Form-16 now reaching most salaried individuals, tax professionals are urging taxpayers to avoid delaying the filing process.
Filing returns early can help reduce mistakes, avoid technical glitches, and ensure quicker processing of refunds.
Importantly, taxpayers must select the appropriate ITR form based on their income category and source of earnings. Using the wrong form can result in notices from the Income Tax Department and may delay return processing.
Which ITR Form Should You Use?
Different ITR forms apply to different categories of taxpayers. Choosing the correct one is critical before beginning the filing process.
ITR-1 (Sahaj): Applicable to resident individuals earning up to Rs 50 lakh annually through salary, one house property, and other income sources.
ITR-2: Designed for individuals and Hindu Undivided Families (HUFs) who are not eligible for ITR-1 and do not have income from business or profession.
ITR-3: Meant for individuals and HUFs earning income through business or professional activities that require maintaining detailed account books.
ITR-4: Suitable for resident individuals, HUFs, and firms (excluding LLPs) opting for presumptive taxation under Sections 44AD, 44ADA, or 44AE. Annual income should not exceed ₹50 lakh.
ITR-5: Applicable to firms, LLPs, Associations of Persons (AOPs), Bodies of Individuals (BOIs), and Artificial Juridical Persons (AJPs).
How To Download And File ITR Online
Eligible taxpayers can download the applicable form from the official Income Tax portal, fill in the details, generate the JSON file, and upload it after proper verification.
Before starting the process, keep documents such as Aadhaar card, PAN, Form 16, Form 16A, Form 26AS, AIS statements, investment proofs, and capital gains records ready.
Here’s the filing process:
- Visit the Income Tax e-Filing portal
- Log in using PAN, password, and captcha
- Click on the ‘e-File’ section and select ‘Income Tax Return’
- Choose the relevant ITR form
- Select the applicable assessment year
- Verify all information carefully before submission
- Complete e-verification using Aadhaar OTP or other available methods
Important ITR Deadlines And Late Filing Penalties
For most individual taxpayers, the due date to file ITR for FY 2025-26 is 31 July 2026. However, taxpayers filing through ITR-3 and ITR-4 have time until 31 August 2026.
Those who fail to meet the original deadline can still submit a belated return by 31 December 2026.
Late filing penalties vary depending on taxable income:
- Taxpayers earning above Rs 5 lakh may face a penalty of up to Rs 5,000 for delayed filing.
- Individuals with taxable income up to Rs 5 lakh may be charged a maximum penalty of Rs 1,000.
Experts recommend filing returns well before the deadline to avoid penalties, processing delays, and correction notices.