Income Tax FY 2025-2026

Filing your Income Tax Return (ITR) for the Assessment Year (AY) 2026-27 (relating to income earned in Financial Year 2025-26) involves adhering to new, streamlined procedures, including the adoption of updated ITR forms.

For personalized assistance with complex filings, tax planning, or audit requirements in Bengaluru, Kopparam and Associates, located in Whitefield, offers expert chartered accountancy services.

Here is a detailed guide to the ITR filing process for AY 2026-27.

ITR Filing Checklist: Preparations (AY 2026-27)

Before filing, gather the following documents:

• PAN and Aadhaar: Ensure they are linked.

• Form 16: Issued by employers (detailed salary and TDS information).

• AIS (Annual Information Statement) 

and Form 26AS: Download from the portal to verify TDS, interest, and

 transactions.

• Bank Interest Certificates: For savings accounts and Fixed Deposits.

• Investment Proofs: For deductions (Section 80C, 80D, etc.).

• Capital Gains Statement: From brokers for shares/mutual funds.

Step-by-Step ITR Filing Process (AY 2026-27)

The Income Tax Department has enabled new forms for AY 2026-27 on the e-filing portal.

1. Log in to the Portal: Visit the e-Filing Portal and log in with your PAN (user ID) and password. Go to 'File Income Tax Return': Choose 'e-File' > 'Income Tax Returns' > 'File Income Tax Return'.

2. Select Assessment Year: Select AY 2026-27 (for FY 2025-26).

3. Select Mode of Filing: Choose 'Online' for real-time filing.

4. Choose Taxpayer Status: Select 'Individual' (or HUF/Firm, if applicable).

5. Choose Appropriate ITR Form:

   • ITR-1 (Sahaj): Individuals with income up to ₹50 lakh (salary, one house property, interest).

   • ITR-2: Individuals with capital gains or foreign income.

   • ITR-3: Business or professional income.

   • ITR-4 (Sugam): Presumptive business/profession income.

6. Validate Pre-filled Information: Check your details (income, TDS, taxes paid) against your AIS/Form 26AS. Update if necessary.

7. Enter Income & Deductions: Report all sources of income. Select the correct Tax Regime (Old vs. New) to calculate the best option.

8. Confirm Tax Summary: Review your tax calculation (payable or refund).

9. Submit and E-Verify: Submit the form and complete e-verification using Aadhaar OTP or net banking.

Key Updates for AY 2026-27

• New Tax Regime Default: The New Tax Regime continues to be the default, but you can opt out.

• Updated Forms: 15% Short Term Capital Gains (STCG) and 10% Long Term Capital Gains (LTCG) fields have been removed.

• Unrealised Rent: A new field for reporting unrealised rent has been added.

• E-verification: Mandatory immediately upon submission to prevent processing delays. 

Get Professional Help in Bengaluru

Kopparam and Associates, managed by CA Gireesh Kumar, offers comprehensive tax services in Whitefield, Bengaluru.

• Services: ITR filing (Individuals/NRI/Firms), TDS Compliance, Tax Audits, and Consultancy.

• Location: 2nd floor, Vijayalakshmi Building, 2, Varthur Main Rd, above Kanthi sweets, Siddapura, Whitefield, Bengaluru, Karnataka 560066.

• Specialty: They assist with complex capital gains, property TDS, and tax notice management.

Disclaimer: The above information is based on the tax regulations and portal updates as of May 2026. Always check the official Income Tax Department website for the latest updates.