Notification No. 46/2026 issued by the Central Board of Direct Taxes amends the Income-tax Rules, 1962 by substituting a revised Form ITR-2 in Appendix II. Exercising powers under sections 139 and 295 of the Income-tax Act, 1961, the amendment comes into force from 31 March 2026 and applies to returns for Assessment Year 2026–27 onwards. The change reflects the government’s intent to update return filing requirements in line with evolving compliance, reporting standards, and tax administration needs. While the notification primarily introduces a structural revision of the ITR-2 form, it signals possible changes in disclosure requirements, improved transparency, and better alignment with current tax policies. Taxpayers required to file ITR-2—typically individuals and Hindu Undivided Families without business income—must use the updated form for filing returns. Overall, the amendment ensures standardized reporting and enhances the efficiency and accuracy of income tax return filing.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 46/2026-Income Tax | 30th March, 2026
G.S.R. 227(E).— In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (Third Amendment) Rules, 2026.
(2) They shall come into force with effect from the 31st day of March, 2026 and shall apply in respect of returns filed for A.Y. 2026-27.
2. In the Income-tax Rules, 1962, in Appendix-II, for FORM ITR-2, the following FORM shall be substituted, namely:—
