AY vs TY Confusion: File Only 1 ITR for FY26?
The new Income Tax Act 2025 introduced 'Tax Year' replacing 'Assessment Year', confusing many taxpayers. The I-T Department has confirmed you only need to file one ITR for income earned between April 2025 and March 2026. No double filing needed.
Fretting over two ITRs costs more stress than a month's chai budget — turns out it's just one form.
You file just one return for your FY 2025-26 income — not two
Key Takeaways
File just one ITR for FY 2025-26 income as usual — no second return is required under the new Tax Year system.
Check that your Form 26AS, AIS, and TIS on the Income Tax portal reflect all income and TDS correctly before filing.
Avoid relying on unverified social media posts about 'double filing' — always verify ITR rules directly at incometax.gov.in or with a CA.
The new Income Tax Act 2025 introduced 'Tax Year' replacing 'Assessment Year', confusing many taxpayers. The I-T Department has confirmed you only need to file one ITR for income earned between April 2025 and March 2026. No double filing needed.
Here's what happened: India's new Income Tax Act 2025 replaced the term 'Assessment Year (AY)' with 'Tax Year (TY)', causing widespread confusion among salaried and self-employed taxpayers.. Many taxpayers feared they would need to file two separate returns — one under the old AY framework and one under the new TY system — for the same FY 2025-26 income.. The Income Tax Department officially clarified that only one ITR is required for income earned between April 1, 2025 and March 31, 2026, regardless of the AY/TY terminology change..
What you should do: File just one ITR for FY 2025-26 income as usual — no second return is required under the new Tax Year system.. Check that your Form 26AS, AIS, and TIS on the Income Tax portal reflect all income and TDS correctly before filing.. Avoid relying on unverified social media posts about 'double filing' — always verify ITR rules directly at incometax.gov.in or with a CA..
The term 'Tax Year 2025-26' and 'AY 2026-27' refer to the same filing period. If your CA or employer mentions either term, they mean the same return.
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- [1]“AY 26-27 and TY 26-27: Do taxpayers need to file two ITRs for FY 25-26 income? I-T Department explains” Wealth-Economic Times · 23 Jun 2026
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