ITR New Form 2025: The Income Tax Department has released the form for filing income tax return 2025-26 for the Assessment Year 2025-26. ITR Forms 1 and 4 have been released for the Assessment Years 2025-26. Through this, returns up to Rs 50 lakh can be easily filed by taxpayers or institutions.
Taxpayers can now file returns for FY 2024-25 (evaluation year 2025-26) using these forms. Several necessary changes have been made in these forms by the Central Board of Direct Taxes, due to which the difference between eligibility and needs can be seen in some cases.
Different ITR forms are fixed by the Income Tax Department based on the income of different taxpayers, its sources and residential status. In such a situation, before filing income tax, it is important to know which form should be used by which taxpayer.
CM Rashmi Gupta and CA Ashish Rohatgi gave information
CA Rashmi Gupta and CA Ashish Rohatgi said that under the Income Tax Act, people who take advantage of LTCG up to Rs 1.25 lakh in a financial year can file ITR One. Earlier, ITR to form had to be filed in this case.
According to the notification of the Income Tax Department, individuals, companies or Hindu undivided families will file ITR for income received in 2024-25. ITR One Sahaj and ITR forms are according to the needs of four smooth taxpayers.
Those taxpayers will be able to use the spontaneous form, whose annual income is up to Rs 50 lakh. They also get salary, a house property, interest from other sources and income from agriculture. He said that in the light of changes made by CBDT, the salaried person taking long -term capital gains from shares and mutual funds will get the benefit.
