ITR filing 2026: 7 big changes in due dates, ITR forms and F&O rules you must know
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ITR filing 2026: What has changed for taxpayers this year?
This year's ITR filing season brings several important updates. While the Income Tax Act, 2025 has come into force, returns for FY 2025-26 will still be filed under the Income Tax Act, 1961. Taxpayers should also be aware of revised filing deadlines, updated ITR forms and stricter disclosure requirements before filing their returns.
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ITR filing due dates 2026: New deadlines for ITR-1, ITR-2, ITR-3 and ITR-4
Most salaried taxpayers filing ITR-1 or ITR-2 must submit their returns by July 31, 2026. However, individuals filing ITR-3 or ITR-4 (non-audit cases) now have time until August 31, 2026. Although the deadline has been extended, experts recommend filing early to avoid last-minute issues.
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ITR forms 2026: Key changes in ITR-1, ITR-3 and ITR-4
The updated ITR forms include several important changes. Taxpayers with up to two self-occupied house properties can now use ITR-1 or ITR-4, subject to other eligibility conditions. The forms also include fields for unrealised rent and reflect the revised capital gains tax rules introduced after Budget 2024.
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F&O and intra-day trading rules: Which ITR form should you use?
If you traded in Futures & Options (F&O) or did intra-day trading during FY 2025-26, you may have to file ITR-3 instead of ITR-1 or ITR-2. Those opting for presumptive taxation under Section 44AD may be eligible to file ITR-4. Choosing the correct form is essential to avoid defective returns.
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F&O disclosure in ITR: What traders need to report
The new ITR forms require more detailed reporting of F&O, intra-day trading and buyback transactions. Taxpayers may have to disclose turnover, purchases, sales, opening and closing stock, direct expenses and the profit or loss reported in their accounts. These additional disclosures aim to improve tax compliance.
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Capital gains tax changes: New ITR reporting rules explained
The revised ITR forms have been updated to reflect the new capital gains tax regime introduced in Budget 2024. References to the earlier tax rates have been replaced with the revised rates. Taxpayers should ensure capital gains are reported correctly under the updated rules to avoid errors during processing.
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Donation deduction and foreign retirement account changes in ITR forms
Taxpayers claiming deductions for political contributions under Section 80GGC now need to provide additional information, including the political party's name and PAN. Separately, resident taxpayers with foreign retirement accounts can no longer claim relief under Section 89A while filing ITR-1 or ITR-4.
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Why taxpayers should prepare for stricter income tax scrutiny
The Income Tax Department is increasingly relying on technology and real-time data validation instead of post-filing scrutiny. This means inconsistencies in disclosures, missing information or incorrect reporting are more likely to be detected quickly. Reviewing your return carefully before submission is now more important than ever.