The Economic Times

AY 26-27 and TY 26-27: Do taxpayers need to file two ITRs for FY 25-26 income? I-T Department explains

Confusion surrounding the new Income Tax Act, 2025, and its transition from Assessment Year (AY) to Tax Year (TY) is clarified by the Income Tax Department. Taxpayers will not need to file two returns for income earned between April 1, 2025, and March 31, 2026.