Income Tax Return Filing for AY 2026-27 Opens Amid Common Errors and Changing Taxpayer Profiles
The Income Tax Department has opened ITR-2 filing for AY 2026-27, targeting individuals with capital gains, multiple properties, or foreign assets, while salaried taxpayers with simpler incomes may use ITR-1. Tax experts warn of common filing errors, such as using incorrect forms or incomplete income reporting, which can delay refunds or trigger notices. Meanwhile, lower-income taxpayers are exiting the filing net due to raised exemption thresholds. Cases also highlight that even correct filings, like switching tax regimes, can prompt automated notices requiring formal responses.
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