The Ministry of Finance (MoF) on March 30, 2026, issued the Income-tax (Second Amendment) Rules, 2026 to further amend the Income-tax Rules, 1962.
The following amendments have been stated:
• In rule 12, in sub-rule (1),
(A) in the opening portion, for the figure “2025”, the figure “2026” shall be substituted;
(B) in clause (a), in sub-clause (ii), for the words “one house property”, the words “two house properties” shall be substituted;
(C) in clause (ca), in proviso, in item (IG), for the words “one house property”, the words “two house properties” shall be substituted; (ii) in sub-rule (5), for the figure “2024”, the figure “2025” shall be substituted.
• In Appendix– II, for FORM ITR-1 has been substituted.
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.
[Notification No. G.S.R. 226(E)]
