Which ITR Form to File in AY 2025-26

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If you're a salaried individual who sold equity mutual fund units in FY 2024-25, you need to determine the correct Income Tax Return (ITR) form for AY 2025-26. While capital gains up to ₹1.25 lakh from equity funds are exempt under Section 112A, this may mean you can continue to file using ITR-1. However, if your capital gains exceed this threshold, you will likely need to file using ITR-2.

Prem Moolwani

Prem Moolwani (Querist)
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27 August 2025 My wife is a Salaried Individual. She invested regular SIPs in Equity Mutual Funds. In FY 2024-25, due to need of money for personal requirements, she sold some units of Mutual Funds amounting Rs. 10,000/- and more. Which ITR Form she should be filed in AY 2025-26. In last few years, she filed her annual income of Salary, Tuition and Bank FDs interest with ITR-1. Which ITR FORM in this AY 2025-26, should she file ITR-2 or not? Give your expert opinion, that which ITR Form in AY 2025-26, she file ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 August 2025 If she sold equity based MF units, whereby the capital gain would be exempt u/s. 112A up to 1.25L. In that case she can still file ITR 1; otherwise ITR 2 will be required.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 September 2025 Good luck....

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