ITR Filing: The tax season has officially started now with the Income Tax Department recently notifying the Income Tax Return (ITR) forms for AY 2026-27 for ITR filing. Salaried and individual taxpayers are required to file their ITRs by 31 July 2026, for AY 2026-27.
Salaried taxpayers will be able to file their taxes once they receive their Form 16 by 15 June 2026. As we enter the ITR filing season, it is important to know that the tax laws of India still allow you to claim deductions against capital gains.
Using these deductions, taxpayers can effectively reduce the tax they pay to the government. Certain deductions can also be claimed under various sections of the Income Tax Act for capital gains incurred by the taxpayer. However, it should be noted that these deductions are subject to strict terms and conditions.
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