Income Tax: Income Tax Department Releases New Forms; Find Out When E-filing Begins on the Portal..
The Income Tax Department has notified all seven ITR forms—along with ITR-V and ITR-U—for Assessment Year 2026-27 (Financial Year 2025-26). This has raised a question in the minds of many taxpayers: can they start filing their income tax returns right now? The simple answer is: not yet. Even though the forms are now available, taxpayers will have to wait a little longer before they can actually file their returns on the e-filing portal.
**Utilities Yet to be Released**
The notification of forms is merely the first step in the ITR filing process. To commence filing, the Income Tax Department must also release the Excel and JSON utilities, which enable taxpayers and professionals to prepare and upload their returns. Filing cannot begin until these utilities go live on the portal and have been thoroughly tested.
**Which ITR Form is for Whom?**
The Department has notified all the key forms, covering various categories of taxpayers:
**ITR-1 (Sahaj):** Salaried individuals with an income of up to ₹50 lakh.
**ITR-2:** Individuals/HUF with capital gains or multiple sources of income.
**ITR-3:** Individuals with business or professional income.
**ITR-4 (Sugam):** Taxpayers opting for the Presumptive Taxation Scheme (small businesses/professionals).
**ITR-5, 6, 7:** For firms, companies, trusts, and institutions.
In addition to these, ITR-V (Verification Form) and ITR-U (Updated Return) have also been notified.
**When Will ITR Filing Actually Begin?**
Although the portal technically opens on April 1st, actual filing typically commences only after the backend systems are fully prepared. CA Parag Jain, Head of Tax at 1 Finance, notes in an FE report that while the new ITR forms have been released, taxpayers should not rush to file them just yet. The e-filing portal is not currently open for submissions. It typically opens following a testing phase, which usually takes place in mid-May. This means taxpayers can expect ITR filing to commence around mid-May, once the system has stabilized.
Why should you still wait before filing?
Even after the utilities are released, experts advise against rushing the process. A primary reason is that immediately following the end of the financial year, crucial documents such as Form 26AS and the AIS are not fully updated. Form 26AS displays details regarding TDS (Tax Deducted at Source) and TCS (Tax Collected at Source), whereas the AIS (Annual Information Statement) encompasses a much broader range of financial transactions. These documents are typically updated between April and May, once companies have completed their final TDS filings and financial institutions have submitted their data.
Why does it take time for the data to appear?
Companies file their TDS returns for the final quarter by May 31st.
AIS data is aggregated from various sources, such as banks and stock exchanges.
Taxpayers require time to reconcile their Form 16 (now Form 130), Form 26AS, and AIS.
If you file too early, any discrepancies in the data could result in you receiving a notice or requiring you to file a revised return.
Do not rush; instead, prepare.
Advising caution, Parag Jain suggests that it is prudent for taxpayers to wait until all necessary documents have been fully updated—a process that is typically completed by mid-June. He further adds that filing too early can lead to errors or the misreporting of data. Taxpayers who have filed prematurely in the past have encountered such difficulties. Instead, taxpayers can utilize this time to organize their documents, verify income details, and properly plan for deductions and exemptions.
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