The government has announced that the new ITR forms under the revised Income Tax Act will be issued before FY 2027-28.

New Delhi: The government will notify the new Income Tax Return (ITR) forms—designed under the provisions of the Income Tax Act, 2025—before the start of the 2027-28 financial year, Minister of State for Finance Pankaj Chaudhary informed on Monday.

In a written reply in the Lok Sabha, Chaudhary said the CBDT’s committee on ITR simplification is holding wide-ranging consultations with tax professionals, institutional stakeholders, and various field units of the Income Tax Department.

The Income Tax Act, 2025—passed on August 21—will come into force from April 1, 2026, replacing the existing Income Tax Act of 1961. The new law aims to streamline tax legislation, cut down on complex wording, and enhance clarity for taxpayers.

All related forms under the Act, including TDS quarterly return forms and ITR forms, are being redesigned. The Directorate of Systems is collaborating with the Tax Policy Division to create forms that are more user-friendly.

Chaudhary noted that the ITR forms under the new Act will need to incorporate amendments introduced in Budget 2026. Therefore, the ITRs for the first tax year—2026–27—will be notified before FY 2027-28.

Regarding forms for income earned in the current fiscal year (Assessment Year 2026-27), he said the ongoing work of consolidation and simplification will continue, and these forms will be issued as per the existing Income Tax Act, 1961.