Here’s the quick & Clear Guide for Tax Professionals
With the introduction of the Income-tax Act, 2025, many Individuals and professionals are inquiring one common question:
To remove all confusion, the Central Board of Direct Taxes (CBDT) has released new Income-tax Rules, 2026 along with detailed transition clarifications.
This article clarifies everything you require to know > clearly and Practically.
A. RETURN FILING PROVISIONS IN TRANSITION YEAR
1. Where are return filing provisions located in the new Income Tax Act 2025?
Under the Income tax Act 2025, all return filing provisions are provided under Section 263, which covers:
- i. Original Return - Section 263(1)
- ii. Belated Return - Section 263(4)
- iii. Revised Return - Section 263(5)
- iv. Updated Return (ITR-U) - Section 263(6)
👉 The structure, mandatory filing, and due dates largely unaltered compared to the Income tax Act, 1961.
2. Who require to file a return under the Income Tax Act 2025?
Section 263(1) prescribes mandatory filing categories.
✔ These categories remain broadly alike to those under the Income Tax Act 1961.
3. Due Dates for Filing Income Tax Return under the Income-tax Act, 2025
| Category of Assessee | Due Date |
|---|---|
| Cases covered by transfer pricing (Section 172) | 30th November |
| Company / Audit cases | 31st October |
| Non-audit business/profession | 31st August |
| Any other assessee | 31st July |
(As proposed in Finance Bill, 2026)
B. TRANSITION CLARITY - DO YOU NEED TO FILE TWO RETURNS?
4. Will taxpayers require to file two returns in FY 2026-27?
❌ No
| Income Period | Return Type | Due Date |
|---|---|---|
| FY 2025-26 | AY 2026-27 (Income Tax Act 1961) | July - Nov 2026 |
| FY 2026-27 | Tax Year 2026-27 (Income Tax Act 2025) | July - Nov 2027 |
👉 The new Act applies prospectively, not retrospectively.
5. Which Income Tax Act administers income earned in FY 2025-26?
✔ Income-tax Act, 1961 only
Even if the return is filed after 1 April 2026, the administering law remains the Income Tax Act 1961 because the income belongs to a pre-transition year.
6. Which ITR forms apply for AY 2026-27?
Use existing ITR forms:
- - ITR-1 to ITR-7
- - Select Assessment Year 2026-27 on the portal
✔ These forms will be notified and enabled well before due dates.
C. PRACTICAL CLARITY - AY 2026-27 vs TAX YEAR 2026-27
| Particulars | AY 2026-27 | Tax Year 2026-27 |
|---|---|---|
| Income Year | FY 2025-26 | FY 2026-27 |
| Governing Act | Income Tax Act, 1961 | Income Tax Act, 2025 |
| Due Date | July/August/October/ Nov 2026 | July/August/October/ Nov 2027 |
| ITR Forms | Existing ITRs | New ITRs (Rules 2026) |
Conclusion — One Line Answer to the Big Question
| AY 2026-27 → Old ITR Forms + Old Act 1961 |
| Tax Year 2026-27 → New ITR Forms + New Act 2025 |
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