New Delhi, July 2 -- The first filing season after the rollout of the Income-tax Act, 2025 has left many taxpayers puzzled. With the new law replacing "Assessment Year" with "Tax Year" from 1 April 2026, some are wondering whether they will need to file two income tax returns, one for AY 2026-27 and another for Tax Year 2026-27.

The Income Tax Department has now clarified that taxpayers will not have to file two returns for the same income. While the new law introduces a new terminology, the return filing process for income earned during FY 2025-26 remains under the existing framework.

Addressing concerns about the transition year, the Income Tax Department has stated that the obligation to file a return for Tax Year 2026-27 will arise ...