India’s income tax filing season for Assessment Year (AY) 2026–27 has officially kicked off, with the Income Tax Department notifying all key Income Tax Return (ITR) forms. The move clears the way for millions of taxpayers to begin filing returns for income earned during Financial Year (FY) 2025–26.

Early notification signals faster refund cycle

In a significant development for salaried individuals and small businesses, the government has released ITR Forms 1 to 7 along with the updated return form (ITR-U). Experts say this early rollout could help streamline the ITR filing 2026 process, potentially leading to quicker refunds and fewer last-minute glitches on the e-filing portal.

The deadline for most taxpayers, especially those not requiring audit, is July 31, 2026, making early preparation crucial.

Which ITR form should you file?

Choosing the correct form remains one of the most crucial points. Here’s a simplified breakdown:

ITR-1 (Sahaj): For salaried individuals

Designed for resident individuals earning up to ₹50 lakh annually. Applicable if income sources include:

  • Salary or pension
  • One house property
  • Other sources like interest income
  • Agricultural income up to ₹5,000

ITR-2: For capital gains & multiple income sources

Applicable to individuals and Hindu Undivided Family (HUFs) who:

Do not earn business/professional income

Have capital gains (stocks, mutual funds, property)

ITR-3: For business owners & professionals

For those earning income from proprietary business or profession.

ITR-4 (Sugam): For small businesses & professionals

Suitable for individuals, HUFs, and firms excluding Limited Liability Partnership (LLPs) under the presumptive taxation scheme with income up to ₹50 lakh.

ITR-5: For firms, LLPs & cooperative societies

Filed by firms and limited liability partnership and cooperative societies

ITR-6: For companies

Mandatory for companies registered under the Companies Act.

ITR-7: For trusts & non-profit organizations

Filed by charitable institutions, religious trusts, and entities claiming exemptions.

ITR-U: Updated return option

Allows taxpayers to revise or correct previously filed returns within a specified period, an increasingly popular option among those looking to correct ITR mistakes after filing.

With increased data integration and AI-driven scrutiny by the tax department, early filing is becoming more important than ever. Benefits include:

  • Faster tax refunds
  • Lower chances of portal errors
  • More time to correct discrepancies
  • Avoidance of last-minute penalties

The notification of all ITR forms marks the official start of the Income Tax Return filing season 2026. Whether you're a salaried employee, investor, freelancer, or business owner, selecting the right form and filing early can save time, reduce stress, and ensure compliance.