New Delhi, May 6 -- The Central Board of Direct Taxes (CBDT) has released updated income tax return (ITR) forms 1 to 5 for assessment year 2025-26, incorporating key Budget 2024 changes-from revised capital gains thresholds to updated presumptive taxation limits-offering taxpayers greater clarity, but also more detailed compliance requirements.

ITR 1 (Sahaj) is meant for resident individuals and Hindu Undivided Families (HUFs) with total annual income up to Rs.50 lakh from sources like salary, pension, interest, dividends, and rent from one house.

LTCG relief

This year's Budget raised the tax-exempt limit for long-term capital gains (LTCG) on securities from Rs.1 lakh to Rs.1.25 lakh. The updated ITR 1 form for FY 2024-25 now allows ta...