New ITR Forms Under Income-tax Act, 2025, CBDT Committee in wide Discussions: Know Release of New Forms
The Government confirmed that stakeholder feedback is being evaluated, and its result will be visible in the final versions of the new ITR forms once notified.
The Central Government has confirmed that new Income Tax Return ( ITR ) forms arising from the recently enacted Income-tax Act, 2025 are currently under development, with extensive stakeholder consultations underway. Responding to questions in the Lok Sabha, the Ministry of Finance clarified that although the new Act has been enacted and will take effect from Tax Year...
The Central Government has confirmed that new Income Tax Return ( ITR ) forms arising from the recently enacted Income-tax Act, 2025 are currently under development, with extensive stakeholder consultations underway.
Responding to questions in the Lok Sabha, the Ministry of Finance clarified that although the new Act has been enacted and will take effect from Tax Year 2026-27, the accompanying ITR forms and rules are still in the process of being drafted and notified.
As per the ministry, the ITR forms under the simplified tax law will not be released immediately. The Government stated that consolidated and simplified ITR forms required for Assessment Year 2026-27 are being prepared in accordance with the provisions of the existing Income-tax Act, 1961.
Meanwhile, the ITR forms that will apply specifically to the Income-tax Act, 2025 will undergo further modifications after the 2026 Budget introduces consequential amendments.
As a result, the first set of ITRs under the new Act will be notified only before FY 2027-28, indicating that taxpayers may see the revised act sometime in late 2026 or early 2027.
Additionally, the CBDT has formed a committee dedicated to reworking the return forms. This committee is currently engaged in consultations with tax experts, industry associations, professional bodies, and field formations for getting practical insights.
The Government confirmed that stakeholder feedback is being evaluated, and its result will be visible in the final versions of the new ITR forms once notified.
“Committee formulated by the CBDT on simplification of Income Tax Returns is carrying out extensive consultations with tax experts, institutional bodies, and field formations of the Income-tax Department. The committee is in process of formulating the ITR Forms, outcome thereof, will be reflected later in the notified forms” said the ministry.
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