The Income Tax Department has released the new ITR-1 (Sahaj) and ITR-4 (Sugam) forms for Assessment Year (AY) 2025–26. Taxpayers filing under the Old Tax Regime must be especially aware of the seven new disclosure requirements and updated eligibility conditions before filing their income tax returns.

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📢 Major Update: Due Date Extended to 15th September 2025

The CBDT (Central Board of Direct Taxes) has extended the due date for filing ITRs from 31st July 2025 to 15th September 2025.

🔍 Reason for Extension:

• Significant changes introduced in the ITR forms

• System development and integration

• Time needed for TDS credit reflection and proper data validation

📌 A formal notification is awaited, but this extension ensures more time for an accurate and stress-free filing experience.

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👤 Who Can File ITR-1 (Sahaj) for A.Y. 2025–26?

ITR-1 is meant for resident individuals with simple income sources.

✅ Eligible If:

• You are a resident individual (not ordinarily resident)

• Total income up to ₹50 lakh

• Income includes:

  • Salary or pension

  • One house property

  • Other sources (like interest income)

• Agricultural income is up to ₹5,000

• Long-Term Capital Gains (LTCG) under Section 112A up to ₹1.25 lakh (from listed shares/mutual funds only)

❌ Not Eligible If:

• You have capital gains from house property sale

• You have short-term capital gains (STCG) from listed equity/mutual funds

• You want to carry forward losses

• You have income from business or profession

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👥 Who Can File ITR-4 (Sugam) for A.Y. 2025–26?

ITR-4 is for small taxpayers opting for presumptive taxation under sections 44AD, 44ADA, or 44AE.

✅ Eligible If:

• You are a Resident Individual, HUF, or Firm (excluding LLPs)

• Total income up to ₹50 lakh

• Income includes:

  • Business or profession under presumptive taxation scheme

  • LTCG under Section 112A up to ₹1.25 lakh

❌ Not Eligible If:

• You have capital gains from sale of house property

• You have short-term capital gains from listed securities

• You have losses to carry forward

• You are a non-resident or LLP

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🧾 7 Additional Disclosures in ITR-1 & ITR-4 for A.Y. 2025–26

1️⃣ HRA (House Rent Allowance) – Section 10(13A)

You must now disclose:

• Place of work

• Actual HRA received

• Rent paid

• Basic Salary + DA

• City type: Metro (50%) / Non-Metro (40%)

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2️⃣ Section 80C – Investments

To claim PPF, LIC, or ELSS deductions:

• Document/Receipt Number

• PPF Account Number

• Insurance Policy Number

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3️⃣ Section 80D – Health Insurance

You must now provide:

• Name of Insurer

• Policy Number

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4️⃣ Section 80E – Education Loan

Disclosure includes:

• Lender name

• Loan account number

• Date of sanction

• Total loan amount

• Outstanding as on 31st March

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5️⃣ Section 80EE / 80EEA – Home Loan Interest

Details required:

• Bank/Lender name

• Loan sanction date

• Loan account number

• Loan amount and outstanding balance

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6️⃣ Section 80EEB – Electric Vehicle Loan

Mandatory disclosures:

• Lender’s name

• Loan sanction details

• Outstanding amount as on 31st March

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7️⃣ Section 80DDB – Specified Diseases

You must now specify:

• Name of the disease for which deduction is claimed

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✅ Key Takeaways

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📆 Filing Timeline

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