ITR forms under new I-T Act to be notified prior to fiscal year 2027-28: Govt

New Delhi: The government will notify the new income tax return (ITR) forms aligned with the Income Tax Act, 2025 before the 2027-28 fiscal year, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on Monday.

He said the CBDT committee on ITR simplification is holding extensive consultations with tax experts, institutions and field officers. The new Income Tax Act—enacted on August 21—will take effect from April 1, 2026, replacing the 1961 law with a simpler and more concise framework.

All forms under the new Act, including TDS returns and ITR forms, are being redesigned, with the Di-rectorate of Systems working alongside the tax policy division to make them more taxpayer-friendly.

Chaudhary said ITR forms under the 2025 Act will also incorporate amendments proposed in Budget 2026, and will therefore be notified before FY 2027-28 for the first tax year, 2026-27.

On ITR forms for income earned in the current fiscal (Assessment Year 2026-27), he said consolidation and simplification efforts are underway, and these forms will be notified as per the existing Income Tax Act, 1961.