Tax Dept Notifies ITR Forms 1, 4 For AY 2025-26

The income tax department has notified ITR forms 1 and 4 for assessment year (AY) 2025-26 that are to be filed by individuals and entities with total income of up to ₹50 lakh a year.

- Press Trust of India

NEW DELHI:

Now individuals having long-term capital gains of up to ₹1.25 lakh in a fiscal year can also file ITR-1. Earlier, such persons were required to file ITR-2.

With the notification, individuals, HUFs, firms having income up to ₹50 lakh and those having earnings from business and profession in the 2024-25 fiscal (April-March) can start filing I-T returns for the income earned in the financial year.