The Central Board of Direct Taxes (CBDT) has now released all income tax return (ITR) forms for Assessment Year 2025-26, covering individuals, companies, LLPs, firms and trusts. The process began with ITR-1 (Sahaj) and ITR-4 (Sugam) on April 29, followed by ITR-7 for charitable trusts and political parties in May, though its utility was delayed until August 8. Other forms, including ITR-2, ITR-3, ITR-5 and ITR-6, were rolled out in phases through July and August, creating challenges for taxpayers and professionals.
This year, ITR-1 has been updated to allow salaried individuals to report capital gains of up to ₹1.25 lakh from listed shares or mutual funds, though loss carry-forward remains restricted. ITR-2 and ITR-3 continue to cater to those with capital gains, foreign assets, or business income, while ITR-5 and ITR-6 apply to companies, LLPs and other entities.
Currently, the filing deadline for non-audit cases is September 15, 2025. Audit cases must file by October 31, while transfer pricing returns are due by November 30. Belated or revised returns can be filed until December 31.
Despite these extensions, industry bodies are urging CBDT to push the non-audit deadline further to October 30, citing delays in utilities and schema updates. With little time left, taxpayers now await CBDT’s decision.
