ITR Rules and Regulations

Important rules and regulations for filing your Income Tax Return for FY 2025-26 (AY 2026-27) — updated with Budget 2026 changes, new tax regime slabs, revised deadlines, and notice handling. Powered by Taxspert's CA expertise.

Sections Covered

₹12.75L

Tax-Free Salary (New Regime)

31 Jul

Due Date (ITR-1 & ITR-2)

31 Aug

Due Date (ITR-3/4 Non-Audit) ⭐

⭐ WHAT'S NEW FOR FY 2025-26 (AY 2026-27)

📅 New deadline: ITR-3 & ITR-4 non-audit cases — 31 August 2026 (was 31 July)

📅 Revised return: Extended to 31 March 2027 (was 31 December)

💰 87A rebate: ₹60,000 — zero tax on income up to ₹12L

📊 New slabs: 7-slab structure starting at ₹4L basic exemption

💼 Employer NPS: Deduction limit raised to 14% of salary

⚠️ Old Act applies: New Income Tax Act 2025 does NOT govern FY 2025-26 returns

SECTIONS AT A GLANCE

1 What is ITR & Why File It?2 Which ITR Form Do You Need?3 Key Due Dates & Penalties 4 Documents Checklist 5 New Tax Regime Slabs — FY 2025-26 6 Old Regime Deductions & Exemptions 7 Old Regime vs New Regime — FY 2025-26 8 Common Mistakes to Avoid 9 ITR Notices & How to Respond

IMPORTANT — CONSULT A CA FOR PERSONALISED TAX ADVICE

Claim tax refunds if excess TDS was deducted from your salary or bank interest
Carry forward losses from capital gains, house property, or business to offset future income
Serve as proof of income for home loans, car loans, credit cards, and visa applications
Avoid penalties, interest, and prosecution under the Income Tax Act, 1961
Mandatory if income exceeds the basic exemption limit (₹4L under new regime / ₹2.5L under old regime)

Income Tax Return (ITR) is an official form filed with the Income Tax Department of India declaring your income, deductions, and taxes paid during a financial year (April 1 – March 31). For FY 2025-26 (AY 2026-27), the return is still governed by the Income Tax Act, 1961 — even though the new Income Tax Act 2025 has come into force from April 2026, it does not apply to income earned before 31 March 2026. Filing your ITR is both a legal obligation for eligible taxpayers and a financially smart move.

Ready to File Your ITR for FY 2025-26?

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CA-Assisted Filing

Both Regimes Compared

Notices Handled

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This page is for FY 2025-26 (AY 2026-27) and is for informational purposes only. It does not constitute professional tax advice. Consult a qualified CA for your specific situation.