Quick Summary
The Institute of Chartered Accountants of India (ICAI) has released a comprehensive Checklist for Preparation of Income Tax Return (ITR) Forms ITR-1 and ITR-4 for AY 2025-26. Published by the Direct Taxes Committee of ICAI, the guide aims to assist taxpayers and professionals in accurate return fili
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FAQ :
The checklist aims to assist taxpayers and professionals in accurately preparing and filing Income Tax Return forms ITR-1 and ITR-4 for AY 2025-26, ensuring compliance with the latest tax laws and reporting requirements.
The checklist covers eligibility and applicability of ITR-1 and ITR-4, modes of filing, pre-requisites like PAN-Aadhaar linkage, bank account pre-validation, e-verification, and detailed section-wise guidance on income reporting, deductions, and tax computation.
Yes, the checklist includes new provisions for AY 2025-26, such as the default applicability of the new tax regime and updated reporting requirements under section 139(1).
The due date for filing ITR-1 and ITR-4 for AY 2025-26 has been extended to September 15, 2025.
The checklist has been issued by the Institute of Chartered Accountants of India (ICAI) through its Direct Taxes Committee.
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