Income Tax Act 2025: New ITR Forms for FY26-27 Returns by April 1, 2027

• New ITR forms under Income Tax Act 2025 will be issued before FY 2027-28, incorporating changes from Budget 2026.
• These new forms will be used for filing income from Financial Year 2026-27 onwards.
• The Income Tax Act 2025 will come into effect on April 1, 2026, replacing the Income Tax Act 1961.
• For FY 2025-26, ITR will still be filed using forms based on the existing Income Tax Act 1961.
• A CBDT committee is working to simplify ITR forms, consulting with tax experts and stakeholders.

Why It Matters: New Income Tax Act 2025 and ITR forms will alter your future tax filings.