Page Contents
Form Section | AY 2025-26 Changes | Remarks / Implications |
---|---|---|
Option to opt-out of new regime (Sec. 115BAC(6)) | Form 10-IEA details added; validation logic included | Stronger compliance checks, CPC validations likely |
Seventh Proviso to Sec. 139(1) | New dropdown for clause (iv); structured disclosure for foreign travel > ₹2L, electricity > ₹1L, CA deposits > ₹1Cr | Targets high-value lifestyle indicators of non-filers |
Schedule AL | Required only if total income > ₹1 crore | Threshold increased from ₹50L to ₹1Cr, relief to many individuals |
Schedule SPI (Clubbing of Income) | PAN/Aadhaar field added for spouse/minor child | Aims to improve traceability under Sec. 64 |
Schedule SI (Special Rate Income) | Segregation for LTCG/STCG pre/post 23 July 2024 (20% pre, 12.5% post) | Reflects revised LTCG tax rate as per Budget |
Schedule CG (Capital Gains) | New LTCG slab of 12.5% post-23 July 2024 | Encourages longer holding, major for capital markets |
Schedule AMT / AMTC | Adjustments for new heads, forward AMT, IFSC bifurcation | More precise AMT validation & compliance |
ESOPs (Sec. 17(2)(vi)) | Detailed reporting of deferment, timelines, employer, etc. | Enables deferred tax benefits under Sec. 80-IAC |
Schedule EI (Exempt Income) | Location-wise agri land disclosure if income > ₹5L | Targeted scrutiny on large agri incomes |
Schedule GST | Outward supply value now mandatory as per GST returns | Enhanced GST cross-checks with ITR |
Verification Section | Dropdown for ‘capacity’ of filer, reference to Sec. 92CD (APA modifications) | Increases clarity and special validations |
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