Rajasthan Teachers Web Portal

How to Choose the Correct ITR Form for AY 2026-27

The Income Tax Return (ITR) filing season for AY 2026-27 has started with important updates in eligibility rules and reporting limits. Taxpayers must carefully choose the correct ITR form to avoid defective returns and notices from the Income Tax Department. This guide explains all major forms—ITR-1 to ITR-7—including who can file them based on income type such as salary, business, capital gains, or presumptive taxation. It also highlights key changes like revised due dates and relaxed rules for reporting up to two house properties in ITR-1 and ITR-4. Selecting the correct form ensures smooth processing, faster refunds, and full compliance with tax laws.

Income Tax Act 2025: Key FAQs on Proposed Tax Exemption for FIIs Investing in G-Secs

The Government has issued FAQs explaining the proposed tax exemption for Foreign Institutional Investors (FIIs) under the Income Tax Act 2025 on investments in Government Securities (G-Secs). The proposal aims to exempt both interest income and capital gains earned by FIIs from eligible government bonds, making India’s debt market more attractive to foreign investors. Currently, FIIs are taxed at 20% on income from securities, with capital gains taxed at higher rates depending on holding period. The new framework under Section 210 is expected to significantly reduce tax burdens, encourage foreign inflows, improve liquidity in government bonds, and strengthen India’s position in global bond indices.