06/05/2025
Summarizing Income Tax Return Forms for AY 2025–26
CBDT, in recent has notified revised ITR-1 to ITR-5 Forms via Notifications 40/2025 to 43/2025.
These Forms are applicable for income earned during FY 2024–25.
Here’s what you need to know:
ITR-1 (Sahaj)
• Income up to ₹50 lakh
• Includes salary, one house property, other sources, LTCG u/s 112A (up to ₹1.25L)
• New fields: Opt-out from new tax regime (115BAC(6)), foreign travel disclosures
ITR-4 (Sugam): For presumptive taxpayers
• Income under 44AD, 44ADA, 44AE up to ₹50 lakh
• LTCG up to ₹1.25L allowed (if no carry-forward loss)
• Expanded deductions (80CCD(1), 80E, etc.)
• TDS section code now required
ITR-2: For capital gains, multiple properties, foreign income
• Capital gains split into before/after 23.07.2024
• Buyback loss claim allowed if dividend shown as income
• Asset-liability reporting threshold raised to ₹1 crore
• Enhanced deduction reporting under 80C, HRA
ITR-3: For income from business/profession
• Includes section 44BBC (cruise biz presumptive taxation)
• Enhanced disclosure for assets, capital gains
• Mandatory section-wise TDS disclosure
ITR-5: For LLPs, firms, AOPs, and BOIs
• Buyback loss allowed with dividend condition
• Capital gains segmented
• TDS codes and new presumptive sections added
Notified Forms:
• ITR-1 & ITR-4 – Notification 40/2025
• ITR-3 – Notification 41/2025
• ITR-5 – Notification 42/2025
• ITR-2 – Notification 43/2025
