New ITR Column in 2026: Is Your Exempt Income Disclosed?
The ITR utility for AY 2026-27 now has a new column to report income that is tax-free but still needs to be shown. If you got money from selling agricultural land, gifts from relatives, or similar receipts, you must now declare them — even though you owe zero tax on them.
A gift from your parents costs ₹0 in tax — but hiding it could cost you ₹10,000+ in notices.
Unreported exempt income above this can trigger a tax notice to you
Key Takeaways
List all tax-free money you received in FY 2025-26 — gifts from relatives, agricultural land sale proceeds, PF withdrawals after 5 years, or inherited amounts.
Use the new 'Other Income' column in the Exempt Income Schedule while filing your ITR to proactively disclose these receipts, even if no tax is owed.
If the exempt amount is large (above ₹50,000), consult a CA or tax professional before filing to ensure proper documentation like gift deeds or sale agreements is in order.
The ITR utility for AY 2026-27 now has a new column to report income that is tax-free but still needs to be shown. If you got money from selling agricultural land, gifts from relatives, or similar receipts, you must now declare them — even though you owe zero tax on them.
Here's what happened: The ITR filing utility for Assessment Year 2026-27 now includes a new 'Other Income' column under the Exempt Income Schedule.. This column lets taxpayers voluntarily disclose tax-free receipts — like gifts from relatives or rural agricultural land sale proceeds — that had no dedicated reporting field earlier.. Tax experts warn that large exempt transactions already appear in departmental records, and not disclosing them invites scrutiny and mismatch notices..
What you should do: List all tax-free money you received in FY 2025-26 — gifts from relatives, agricultural land sale proceeds, PF withdrawals after 5 years, or inherited amounts.. Use the new 'Other Income' column in the Exempt Income Schedule while filing your ITR to proactively disclose these receipts, even if no tax is owed.. If the exempt amount is large (above ₹50,000), consult a CA or tax professional before filing to ensure proper documentation like gift deeds or sale agreements is in order..
Gifts above ₹50,000 from non-relatives ARE taxable — only gifts from blood relatives like parents, siblings, and spouse are fully exempt. Double-check who qualifies before claiming exemption.
File Your ITR Smartly
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- [1]“ITR utility updated: New 'other income' column added under exempt income schedule; here's what it means” Wealth-Economic Times · 6 Jul 2026
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