Students, salaried employees, pensioners and other taxpayers who are not required to conduct an income tax audit, can file their income tax return (ITR) on or before July 31, 2026 for AY 2026-2027. For tax year 2026-2027, the ITR filing due date is July 31, 2027
There are three ITR forms (ITR-1, ITR-2 and ITR-3) which individuals can file depending on their income sources. For example, a student who has no other income except pocket money, but has made some stock market transactions, needs to file ITR-2 or ITR-3. But if the student has not made any stock market transactions, he/she can file ITR-1.
Who can file ITR-1 for AY 2026-2027?
ITR-1 (Sahaj) can be filed by a resident individual whose total income does not exceed Rs 50 lakh during the financial year and whose income sources are relatively simple. This includes income from salary or pension, one house property, and other sources such as interest income (from savings accounts, deposits, income tax refunds, or enhanced compensation) and family pension.
Chartered Accountant Abhishek Soni, co-founder, Tax2Win, says that you can report agricultural income up to Rs 5,000 and limited long-term capital gains (LTCG) under Section 112A up to Rs 1.25 lakh, provided there are no capital losses to be carried forward.
Soni says that clubbed income of a spouse or minor can also be included, as long as it falls within the permitted income categories.
Soni says that for AY 2026-27 (for income earned during FY 2025-26), you have to disclose the name and PAN of the political party to claim a deduction for political donations under Section 80GGC for accurate reporting and proper documentation.
However, individuals with complex income sources, multiple properties, or higher capital gains are not eligible to file ITR-1 and must use ITR-2 or ITR-3 or any other ITR applicable to them.
How to file ITR-1?
Here’s a step-by-step guide on how to file ITR-1:
Step 1: You need to login to the ITR e-filing portal and use your credentials. Then you need to navigate to the e-file tab and hover your mouse over the ‘Income Tax Returns’ tab and then click on ‘File Income Tax Return’ button.
