Income-tax returns, June 28 -- The income-tax department has notified all ITR forms 1-5 for assessment year 2026-27 i.e. financial year 2025-26 and enabled the excel utility facility for the online ITR-1 (Sahaj), ITR-2, ITR-3, and ITR-4 (Sugam) forms for this tax year (AY27 / FY26).

Notably, availability of excel utility means that taxpayers can first prepare their returns offline before uploading them digitally. Deadline for filing taxes is 31 July, which you can do by logging into the e-filing portal with your User ID and password.

Today we explain what rebate under Section 87A is, differences as per the new and old tax regimes, how much rebate individual taxpayers can claim, eligibility criteria, the rules and other details.

Unlike ...