Updated ITR Form 2025: File Returns up to Rs. 50 Lakh Easily

The Income Tax Department has issued a new form for ITR filing for the assessment year 2025-26. ITR Form 1 and 4 have been issued for AY 2025-26. These updated forms make the ITR filing easy for returns up to 50 lakh by the taxpayer or returns on behalf of institutions.

Taxpayers will see some differences in these forms, as many changes have been introduced by the Central Board of Direct Taxes (CBDT). There are different types of income tax return (ITR) forms based on your income, sources of income, and where you live. So, before filing your taxes, it is important for taxpayers to find out which form they are required to file.

As per a professional expert, under the Income Tax Act, if a person avails long-term capital gains (LTCG) of up to Rs. 1.25 lakh in a financial year, they can now file ITR-1. Earlier, they had to file ITR-2 for this. The salaried taxpayers who earn LTCG gains from shares and mutual funds will get benefits under the changes made by CBDT.

As per the notification issued by the Income Tax Department, individuals with income up to Rs. 50 lakh, as well as companies or Hindu Undivided Families (HUFs), will file ITR for income earned in 2024-25. ITR-1 (Sahaj) and ITR-4 (Sugam) are designed according to the needs of these taxpayers. Sahaj form is for taxpayers with income up to Rs. 50 lakh a year. Additionally, it is also for those who earn income from salary, agriculture, one house property, and interest from other sources.