Income Tax Returns: CBDT notifies ITR Form 6 for AY 2025-26, Know Complete Changes Here [Read Notification]

The Central Board of Direct Taxes ( CBDT ) has issued the revised Income Tax Return Form 6 ( ITR-6 ) for AY 2025-26 by Notification No. 44/2025 dated 06.05.2025.

The new form has incorporated the amendments agreed under the Finance Act, 2024, which made changes in capital gains reporting, business income, and tax deductibles.

Among the big changes in the format is the alteration to Schedule Capital Gains so that it demands a split disclosure of gains arising prior to and subsequent to 23rd July 2024 the date on which alterations to the capital gains regime came into force through the Finance Act, 2024.

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Also, a new provision permits capital loss from share buyback to be claimed, subject to the taxpayer bringing to tax the corresponding dividend income as "income from other sources" for buybacks on or after 1st October 2024. This amendment allows for more level tax treatment in the case of share repurchases.

The revised ITR-6 also captures the addition of a mention of Section 44BBC, related to presumptive taxation of the business of running cruise ships, thus bringing certain tax provisions to such a specialized sector.
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In Schedule BP (Business Profits), changes have been introduced in accordance with Rule 10TIA, requiring profits in respect of the sale of rough diamonds to be 4% or more of gross receipts to satisfy the safe harbour provisions. This is to introduce more certainty and transparency in determining the profitability of diamond trading concerns.

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Additionally, the form has been strengthened to record details of deductions under Section 24(b), pertaining to interest on house loan against income from house property, thus enhancing disclosure level and compliance monitoring.

Finally, Schedule TDS (Tax Deducted at Source) now requires reporting of the relevant TDS section codes, ensuring clarity and alignment between the tax deducted and the nature of the transaction.

To Read the full text of the Notification CLICK HERE

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