New ITR forms for I-T Act, 2025, to be notified before FY28: Govt

• New ITR forms under the Income Tax Act, 2025, will be notified before the 2027-28 fiscal year, as stated by MoS Finance Pankaj Chaudhary.
• The Income Tax Act, 2025, enacted on August 21, will come into effect from April 1, 2026, replacing the 1961 Act to simplify tax laws.
• A CBDT committee is consulting tax experts and bodies to simplify ITR forms and make them taxpayer-friendly.
• ITRs for the first tax-year 2026-27 will be notified prior to FY 2027-28, incorporating changes from the Budget 2026 amendments.

Why It Matters: Upcoming simpler tax forms mean easier tax filing for you.