New Delhi, April 30 -- The Income Tax Department has updated the ITR forms for the Assessment Year 2026-27, requiring taxpayers to separately report interest income from non-banking financial companies (NBFCs), housing finance companies (HFCs) and certain corporate instruments. This disclosure falls under Schedule OS, which covers income that does not fall under salary, house property, capital gains or business income.

The revised format includes specific fields for reporting interest income rather than including it under a combined "other income" category. The change aligns reporting with the details available in Form 26AS and the Annual Information Statement (AIS), allowing clearer classification of income and improving data matching d...