02/05/2025
*Here is a detailed analysis of the prima-facie changes in the ITR forms for AY 2025–26 as compared to AY 2024–25.*
*ITR-1 (SAHAJ)*
✅ Now allowed to be used even if there is long-term capital gain (LTCG) under section 112A, provided:
➡️The LTCG does not exceed ₹1.25 lakh, and
➡️ There is no loss to be carried forward or set off under the capital gains head .
✅ Until AY 2024-25, ITR-1 couldn’t be used at all if any capital gains existed.
*ITR-4 (SUGAM)*
✅ Similar provision as above included.
✅ Permits LTCG under section 112A up to ₹1.25 lakh with no carried forward loss
*ITR-1 & ITR-4*
✅ Expanded disclosure on opting out of new tax regime using Form 10-IEA under section 115BAC(6):
✅ If opted out in AY 2024–25, user must declare and optionally continue or reverse that decision.
✅ If opting out for the first time in AY 2025–26, they must provide Form 10-IEA acknowledgment details.
✅ Additional clarification for late filing of Form 10-IEA.
*ITR-1 & ITR-4*
✅ All deductions (e.g., 80C to 80U) must now be selected from a drop-down in the e-filing utility. Specific clauses and sub-sections must be disclosed.
✅ Income under section 89A (retirement accounts maintained abroad) has enhanced fields and relief tracking  .
*ITR-4*
✅ Section 44AD (business): Turnover threshold is now ₹3 crore if digital transactions make up ≥95%.
✅ Section 44ADA (professionals): Limit enhanced to ₹75 lakh under the same digital receipts condition .
*ITR-1 & ITR-4*
✅ All bank accounts held in India during the previous year must be reported (excluding dormant accounts).
✅ At least one account must be selected for refund credit.
