ITR Forms: All Income Tax Income Form for 2025-26, know what relief has been received
All ITR patterns have arrived
Itr forms : The Income Tax Department has announced all 7 income tax returns (ITR) forms for the annual year. ITR -1 (Sahaj) and ITR -4 (Sukhum) for small and medium taxpayers were announced on April 29, while ITR -7 for trust and charities was released on May 11.
Major changes to capital gains in ITR -1 and ITR -4
An important change has been made in the form of ITR -1 and ITR -4 associated with long -term capital benefits (LTCG) from the stock stock. Taxpayers can now file an ITR -1 or ITR -4 under the salary and rated taxation scheme, which has up to Rs 1.25 lakh in the financial year. Previously they had to fill the ITR -2.
The discount continues up to Rs.1.25 lakh in LDCG
According to the Tax Act, the LDCG tax is not taxed up to Rs 1.25 lakh from the sale of shares and mutual funds listed. 12.5% of the tax is imposed on higher income than this.
New rules related to information about Form cuts and DDS
In the form, there have been changes in exemption claims under 80 C, 80 GG and other sections. In addition, now the taxpayer must submit information about the DTS in a severe form.
Last date for filing ITR 31 July
When the Form is announced, the taxpayer can file an ITR in the financial year 2024-25 when the e-disorder facility is launched. The last date for taxpayers without censorship is July 31.
Design the Notice Reason for Delay
The announcement of the ITR form was delayed as the Revenue Department was busy making the new Income Tax Bill launched in Parliament in February. These forms are generally announced in February or March.
ITR-1 and ITR-4 For whom?
ITR-1 (Son-in): Annual income is up to Rs.
ITR-4 (intelligent): Such persons are up to Rs 50 lakh and earn a business or industry income.
To whom is ITR -2?
ITR-2 is filled by those individuals and non-partial families (HUF), not from commercial or professional benefits.
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