The Income Tax Department has updated the ITR Utility & Schema for AY 2026-27, introducing an important change in Schedule EI (Exempt Income).
The earlier “Other Exempt Income” catch-all field has been removed.
A new specific reporting option — “Receipts not in the nature of income” — has now been introduced.
The new option provides a structured mechanism to report receipts that are not income in the first place.
Use “Receipts not in the nature of income” for reporting items such as:
- Gifts received from specified relatives
- Sale proceeds of rural agricultural land (not a capital asset)
- Other capital receipts outside the charging provisions of the Income-tax Act
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