New ITR-5 Form for Income Tax Returns for 2026-27
- Document
- Notification Notification No. 48/2026
- Effective
- 31st day of March, 2026
This page was written by Patron Accounting’s AI from the official release and reviewed before publishing. It explains the document in plain language. It is not the document itself. Where this page and the original differ, the original governs.
In short
Notification No. 48/2026 introduces an updated ITR-5 form for filing your annual income tax return. This change ensures that the tax department collects more detailed information regarding your business income and audit status for the 2026-27 assessment year.
What has changed
How it worked before
Until this notification, you used the previous version of Form ITR-5 to report your annual income. The older form did not include the specific updated reporting requirements for business income and audit details now required by the tax authorities.
What has changed
The government has replaced the old ITR-5 form with a new version that includes additional fields for reporting business income, presumptive taxation (a simplified tax calculation method), and audit information. You must now provide these extra details when you file your return for the 2026-27 assessment year.
Who this affects
This applies to you if you are not an individual, a Hindu Undivided Family (HUF), a company, or a person filing ITR-7. This specifically includes Limited Liability Partnerships (LLPs), firms, Associations of Persons (AOPs), Bodies of Individuals (BOIs), and trusts.
What you should do
You must use the new ITR-5 form when you file your income tax return for the 2026-27 assessment year. Ensure you have all your updated business and audit records ready to fill in the new fields correctly.
The original document
| Issued by | IT |
|---|---|
| Document | Notification Notification No. 48/2026 |
| Full title | Notification No. 48/2026 |
| Effective | 31st day of March, 2026 |
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