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National News

The Times of India

National / The Times of India

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Draft Income Tax Rules 2026: How ITR forms are evolving - top changes explained

New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification. Eligibility criteria for simplified forms like ITR-1 and ITR-4 have been adjusted, allowing for two property ownership and expanding disqualifications to include new income streams. Taxpayers must carefully evaluate their eligibility annually to avoid defective returns.

17 Feb 2026 5:13 pm