The key changes have been introduced in the new Income Tax Return (ITR) Forms 1 to 7, as notified by the CBDT for the Assessment Year 2025–26. These ITR forms will be used to report income earned during the Previous Year 2024–25. Unlike previous years, the forms have been notified with a delay, prompting concerns about possible deadline extensions.
The key changes in the ITR Forms for AY 2025–26 are as follows:
‣ Aadhaar Enrolment ID is No Longer Accepted for ITR Filing or PAN Application
‣ Capital Gains Tax Rules Revised for Transfers made on or after 23rd July 2024
‣ Schedule for Section 80-IC Deduction Removed as Eligibility Period has Expired
‣ Section 115U Pass-through Income Now Reportable Under Schedule PTI
‣ Disclosure Expanded in Schedule 5A to Cover Audits Under All Tax and Applicable Laws
‣ TDS Section Reference Is now Mandatory in the Tax Payment Schedule of All ITR Forms
‣ ITR-6 Updated to Report Profits from Raw Diamond Sales Under Safe Harbour Rules
