Hi there! 
The ITR forms for AY 2026–27 were notified at the end of March, and we’ve been getting one question repeatedly: “When can I start filing?”
To answer for everyone, just because the ITR forms are out doesn’t mean the filing season has officially started. The e-filing utilities still need to go live before returns can actually be filed.
This year’s ITR forms also come with some striking updates. If you have two house properties, you can now file ITR-1 instead of switching to the more complex ITR-2. LTCG reporting under Section 112A has also been simplified, so you no longer need to separately report pre/post-July 23, 2024 transactions. There are a few other changes which will really be helpful to know.
Also, as we move into the beginning of Tax Year, if you’ve been filing Form 15G or Form 15H to avoid TDS on bank interest or other income, you’ll now need to file Form 121 instead.
We’ve handpicked threads on these topics in today’s edition.
TOP THREADS
When will ITR filing start for AY 2026-27?
Many of you are waiting for ITR filing to go live. For context, the CBDT notified the ITR forms at the end of March 2026, but that doesn’t mean you can start filing your return just yet. Filing only begins once the e-filing utilities are live. And this will take…Continue Reading
Key changes in the ITR forms for AY 2026-27
The ITR forms haven’t changed much on the surface, but there are several important updates that affect how you file this year. These include form-specific changes to ITR-1 filing eligibility, tax regime selection, reporting long-term capital gains, F&O transactions…Continue Reading
What is Form 121, which replaced Form 15G/15H?
Earlier, your age determined which form you filed: Form 15G if you were under 60, and Form 15H if you were a senior citizen. Now, regardless of age, you’ll file Form 121 so TDS isn’t deducted on incomes like bank interest, dividends, rent, or pension. As a consolidated form, it also brings several changes to…Continue Reading
FAQs
What details do I need to claim deduction for political donations?
If you’re claiming a deduction under Section 80GGC for donations to political parties, you’ll now need to provide the party’s name and PAN in your ITR. Both are mandatory fields for claiming the deduction.
Are there any changes in ITR-3 for F&O traders?
Yes, ITR-3 has added dedicated fields for F&O turnover and income, keeping them separate from your intraday trades. This reporting will now align directly with your broker’s P&L, and reduce the chances of errors or mismatch notices from the ITD.
Who can file Form 121?
You can file Form 121 if your total income (including capital gains) is below the basic exemption limit and your tax liability is nil, so that TDS isn’t deducted on your income.
RESULTS FROM LAST DIGEST
What’s the minimum investment required for Specialized Investment Funds?
A) â‚ą25 lakh (0%)
B) â‚ą50 lakh (20%)
C) â‚ą10 lakh (80%) 
D) â‚ą30 lakh (0%)
Well done! 80% of people chose the right answer.