📢 BIG ITR UPDATE for A.Y. 2025–26! 🚨

New Annexures Introduced for Deduction Claims in ITR-1 & ITR-4

As the Income Tax Department releases updated ITR forms for A.Y. 2025–26, taxpayers under the Old Regime must prepare for major compliance changes. The focus? Transparency, traceability, and accuracy in deduction claims. Here’s what’s new and what you need to do! 👇

📝 What’s New?

The updated ITR-1 and ITR-4 forms introduce detailed annexures to support deduction claims. From house rent and insurance to education loans and EV financing, taxpayers now need to furnish precise documentation and source-level information.

🏠 1. HRA – Section 10(13A)

➤ Place of Work
➤ HRA Received
➤ Rent Paid
➤ Basic Salary + DA
➤ 50%/40% Rule for Metro/Non-Metro

📌 Why? To avoid inflated claims & ensure accurate exemption calculation.

💰 2. Section 80C – Tax-Saving Investments

➤ Document/Receipt ID
➤ PPF Account Number
➤ LIC Policy Number

🗂️ More transparency on investment-based claims!

🏥 3. Section 80D – Medical Insurance

➤ Insurance Company Name
➤ Policy Number

💡 Direct mapping of deductions to policies = better verification

🎓 4. Section 80E – Education Loan Interest

➤ Bank Name
➤ Loan A/c Number
➤ Sanction Date & Total Amount
➤ Outstanding Balance as on 31st March

📊 Complete traceability of loan lifecycle

🏡 5. Section 80EE / 80EEA – Home Loan Interest

➤ Same disclosures as 80E
➤ Applicable for first-time & affordable housing buyers

⚡ 6. Section 80EEB – EV Loan Interest

➤ Name of Lender
➤ Loan Account Details
➤ Outstanding Loan Amount

🚗 Green tax incentive with proper records!

🩺 7. Section 80DDB – Specified Diseases

➤ Name of Disease (Dropdown in Portal)

🏥 Critical for medical deductions — ensures legitimacy

👨‍👩‍👧 Other Key Annexures Include:

✅ Sec 24(b) – Interest on Housing Loans
✅ Sec 80CCC/CCD – Pension Contributions (PRAN Mandatory)
✅ Sec 80DD & 80U – Disability-Related Claims

📌 Key Takeaways for Taxpayers

📋 More Documentation = More Accuracy
🧾 Have your PAN, policy numbers, loan A/cs, & receipts ready
📅 Prepare early to avoid last-minute delays
🔍 Claims without data may be questioned or disallowed

📢 This is a positive step towards a digital, transparent, and accountable tax system. But it also means taxpayers must gear up with documents in hand.

💬 Are you ready to file your ITR with these new disclosures? Share your views or questions below! 👇

#ITR2025 #IncomeTaxUpdate #ITRForms #OldRegime #TaxDeductions #ITRFiling #TaxCompliance #Finance #IndiaTax #Transparency #AY2025_26