Filing Returns: New Forms & Processes for AY 2026-27
Filing season 2026 is the last cycle under the Income Tax Act, 1961 before the new Income Tax Act, 2025 takes over for FY 2026-27 onwards. This guide covers which ITR form applies to you (including ITR-1’s newly expanded scope to include limited LTCG under Section 112A), the standard due dates for AY 2026-27 (31st July for most individuals, with later dates for audit and transfer-pricing cases), how to verify — not just accept — pre-filled return data, the critical and often-missed 30-day e-verification step, and your options if you miss a deadline: revised return (Section 139(5), cleanest option), belated return (Section 139(4), with a 234F late fee), or ITR-U (Section 139(8A), now extended to a 48-month window but always increases tax liability). We close with a preview of the “Tax Year” terminology and extended revision window coming under the new Act from 2027.