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New ITR-3 form notified for income tax return filing for FY 2024-25: Here’s what’s new for taxpayers

The Income Tax Department has released ITR form 3 for FY 2024-25, featuring key changes like an increased asset/liability reporting threshold and revised capital gains reporting.

ITR filing FY 2024-25: New ITR-1 form notified with major changes - here’s what taxpayers should know

The Income Tax Department has introduced new ITR-1 and ITR-4 forms for FY 2024-25, simplifying tax filing for individuals with long-term capital gains up to Rs 1.25 lakh from listed equities. These forms feature modifications for deductions and require detailed TDS information. This change aims to enhance taxpayer services and encourage voluntary compliance by reducing the complexity for small taxpayers.

Income tax department notifies all 7 ITR forms for AY 2025-26; Check key changes in capital gains reporting and disclosure norms
Income tax department notifies all 7 ITR forms for AY 2025-26; Check key changes in capital gains reporting and disclosure norms

The income tax department has notified all seven ITR forms for the assessment year 2025-26, including changes in ITR-1 and ITR-4 for reporting capital gains. Taxpayers with LTCG up to Rs 1.25 lakh can now file ITR-1 and ITR-4. Other ITR forms have been updated to reflect changes in capital gains tax calculations and reporting thresholds.

Updated LTCG and STCG tax rates: What investors need to know before selling equities, bonds, GDRs, and FCCBs
Updated LTCG and STCG tax rates: What investors need to know before selling equities, bonds, GDRs, and FCCBs

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