The Central Board of Direct Taxes issued Notification No. 48/2026 dated 30 March 2026, introducing the Income-tax (Fifth Amendment) Rules, 2026 under sections 139 and 295 of the Income-tax Act, 1961. The amendment substitutes Form ITR-5 in Appendix-II of the Income-tax Rules, 1962. The revised form will apply to income tax returns filed for Assessment Year 2026–27 onwards. The notification comes into force from 31 March 2026 and forms part of ongoing amendments to the Income-tax Rules, which were last updated on the same date. The change formally replaces the existing ITR-5 form with a new version as prescribed under the amended rules. The notification does not specify additional substantive provisions but focuses on updating the prescribed return format for relevant taxpayers required to file ITR-5 under the Income-tax framework.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 48/2026-Income Tax | Dated: 30th March, 2026
G.S.R. 229(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 Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (Fifth 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 Assessment Year 2026-27.
2. In the Income-tax Rules, 1962, in Appendix-II, for Form ITR-5, the following Form shall be substituted, namely:—
[No. 48 /2026/F. No. 370142/8/2026-TPL]
PRADEEP SHARMA, Dy. Secy., Tax Policy and Legislation
Note:- The Income-tax Rules, 1962 rules were published in the Gazette of India, Extraordinary, Par II, Section 3, Sub-section (ii) vide notification number S.O. 969 (E), dated the 26th March, 1962 and last amended vide notification GSR. 228(E), dated the 30th March, 2026.
