
Taxation_Update
June 3, 2025 at 05:51 AM
📢 *BIG ITR UPDATE for A.Y. 2025-26!*
☀️ New *Annexures* introduced for claiming deductions in Income Tax Returns (ITR)
To improve *transparency & verification*, the Income Tax Dept. has rolled out *additional disclosure requirements* for key deductions. Here's what you MUST fill in:
🏛️ *Annexures Introduced — Quick Summary* 👇🏻
1. *Interest on Borrowed Capital – Sec 24(b)*
➤ Loan Source (`Bank` / `Other than Bank`)
➤ Name of Lender
➤ Loan A/c Number
➤ Sanction Date
➤ Total Loan Amount
➤ Outstanding as on 31st March
➤ Eligible Interest (Sec 24(b))
2. *Deduction under Sec 80C*
➤ *Policy Number* or *Document ID* is now *mandatory*
3. *Deductions under Sec 80CCC / 80CCD(1) / 80CCD(1B)*
➤ *PRAN Number* (for NPS & pension-related deductions)
4. *Medical Insurance – Sec 80D*
➤ *Name of Insurance Company*
➤ *Policy Number*
5. *Dependent with Disability – Sec 80DD*
➤ Details of dependent with disability (*format/details may vary*)
6. *Specified Disease – Sec 80DDB*
➤ *Disease* must be selected from dropdown list
7. *Education Loan Interest – Sec 80E*
➤ Loan Source
➤ Name of Bank
➤ Loan A/c Number
➤ Sanction Date
➤ Total Loan Amount
➤ Outstanding as on 31st March
➤ Interest Paid (Sec 80E)
8. *Residential House Loan – Sec 80EE*
➤ Loan details similar to Sec 80E
➤ Interest Paid under Sec 80EE
9. *Affordable Housing Loan – Sec 80EEA*
➤ Same disclosure as 80EE
➤ For certain residential properties
10. *EV Loan – Sec 80EEB*
➤ Same as above
➤ For *Electric Vehicle Loan Interest*
11. *Person with Disability – Sec 80U*
➤ Personal details related to disability (*format/details may vary*)
🎯 *Key Takeaway:*
These annexures ensure *detailed documentation* for deduction claims — so be ready with your loan, insurance, and policy details while filing ITR!
✅ Start preparing documents early to avoid last-minute rush.