Income Tax in India (AY 2026-27) — ITR, Regimes, Deductions & Notices

Which ITR form & regime

Most salaried taxpayers use ITR-1 (Sahaj); capital gains usually need ITR-2, business income ITR-3, and the presumptive scheme ITR-4. The new regime is the default for AY 2026-27 (income up to ₹12 lakh effectively tax-free via the 87A rebate, ₹75,000 standard deduction); the old regime can still win with large deductions.

Deductions that save you tax (old regime)

Section 80C (₹1.5 lakh — PPF, ELSS, EPF), 80D (health insurance), 24(b) (home-loan interest), 80CCD(1B) (extra ₹50,000 NPS) and HRA. Compute both regimes before choosing — our calculators show the difference.

Filing, deadlines & notices

Reconcile against your AIS and Form 26AS, file by 31 July (non-audit individuals), and e-verify within 30 days. For a 143(1) intimation, check the mismatch and respond — the AI tax agent explains it in plain English.

Free tools for this

• HRA Exemption Calculator
• Income Tax Calculator
• Salary / CTC Breakup Calculator

Guides on this topic

• Why Is My ITR Refund Delayed in 2026? (And How to Fix It)
• Tax Year vs Assessment Year — What Changed Under the Income Tax Act 2025
• ITR-1 vs ITR-2: Which Income Tax Return Form Should You File? (AY 2026-27)
• Old vs New Tax Regime (AY 2026-27): Which One Saves You More?
• TDS Explained Simply: On Rent, Salary & Professional Fees (India 2026)
• TDS vs TCS — What's the Difference? (India, Explained Simply)
• ITR: Original vs Belated vs Revised Return — What's the Difference?
• Which ITR Form Should You File for AY 2026-27? (ITR-1 to ITR-4)
• How to File ITR-1 (Sahaj) Online for AY 2026-27 — Step by Step
• Old vs New Tax Regime for AY 2026-27 — Which Saves You More?
• Documents Needed to File Your ITR (AY 2026-27) — Full Checklist
• Missed the ITR Deadline? Belated Return, Late Fee (234F) & Interest

Related services

• Professional Tax Return Filing
• Income Tax Return (ITR) Filing
• Business Tax Filing (ITR-3)
• Partnership/LLP Income Tax Filing
• Company Income Tax Filing (ITR-5)
• ITR-U Updated Return Filing
• TDS Return Filing
• Income Tax Notice & Assessment
• Income-Tax Appeal (CIT(A) / ITAT)

Frequently asked questions

Which ITR form should I file?

Salaried with income up to ₹50 lakh and one house: usually ITR-1. Capital gains: ITR-2. Business/profession: ITR-3, or ITR-4 under the presumptive scheme. Confirm on the e-filing portal.

Is income up to ₹12 lakh tax-free?

Under the new regime for AY 2026-27, the Section 87A rebate makes income up to ₹12 lakh effectively tax-free for resident individuals; with the ₹75,000 standard deduction a salaried break-even is a little higher.

Old or new regime — which is better?

Compute both. The old regime can beat the new one if your deductions (80C, 80D, HRA, home-loan interest) are large; otherwise the new regime usually wins. Our income-tax calculator compares them.