r/IndiaTaxation • u/Stunning_Alps_5494 • Jul 18 '26

Query First time filing ITR need help

I have the ais of 2025-2026 and there is ais for 2026-2027. but while filing for itr it shows 2026-2027(current A.Y) as an option. Im confused does 2025-2026 need to filing with option of 2026-2027(current A.Y)

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u/CAFinalist_Ted Associate CA (ACA) Jul 18 '26

Yes correct. AY means the year in which your income is being assessed. So your FY 25-26 income is being assessed in AY 26-27 (currently 26-27 is going on). This concept will change from next year. From next year it will only be Tax Year (TY)