New Delhi: Last week, several modifications were introduced to the new income tax forms. These updates are crucial for anyone intending to file their tax return (ITR) for the assessment year (AY) 2026-27 by July 31, 2026. The forms pertain to income from the financial year (FY) 2025-26, and adherence to the previous income tax regulations is required.
As per the report, the most notable alteration in all the newly issued forms (ITR 1 through 7) is the address section. A new column has been incorporated into Part A of the form, which generally asks for the taxpayer’s personal details, including name, PAN, Aadhaar number, and contact information.
What’s new?
According to Taxmann Research, previously, only one address, two mobile numbers, and two email IDs were required in the form. In the updated form for Assessment Year 2026-27, there is now an option to provide a secondary address in addition to the primary one. Furthermore, the columns for mobile numbers and email IDs are now categorized as primary and secondary contact information.
Will representatives receive any relief?
A representative is someone who files a tax return on behalf of another individual. The old form demanded various details, such as the representative’s name, capacity, address, and PAN/Aadhaar information. The new form streamlines this process. Now, the representative only needs to supply three pieces of information: their name, email address, and mobile number.
This item has been removed
The new ITR form eliminates the dual reporting requirement. This change is due to the fact that the rate adjustments were only applicable for the previous year 2024-25. Since there have been no modifications to the income tax slabs for the previous year concerning AY 2026-27, it is no longer necessary to provide separate details of capital gains based on the transfer date. This has greatly simplified the reporting process.
