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Income Tax Department notifies ITR 1, ITR 4 forms for assessment year 2025-26
10-May-2025
The Central Board of Direct Taxes has notified the income tax return forms ITR 1 and ITR 4 for the financial year 2024-25 and the assessment year 2025-26.
The returns for income earned during the financial year from April 1, 2024, to March 31, 2025, must be filed using the new forms.
This year, a major change in the ITR forms is that ITR 1 can be filed to notify long-term capital gains under section 112A. This is subject to the condition that the LTCG is not more than Rs 1.25 lakh, and the income tax assessee has no loss to carry forward or set off under the capital gains head.
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