... incorrect form selection.Capital gains complexityThe draft rules allow ITR-1 and ITR-4 where long-term capital gains under section 198 don't exceed Rs 1.25 lakh and there are no carry-forward losses.
ITRs for AY 2026-27 will use current forms under the Income Tax Act, 1961, despite the new Income Tax law from April 1, 2026, as per Moneycontrol. Major changes start from 2027 ....
In keeping with the spirit of Jan Vishwas, ease of living, and to reduce the burden of litigation and compliance, Budget 2026 has proposed changes related to the filing of ITR....