It’s time to get your tax ducks in a row! The Income Tax Department has officially kicked off the filing season for Assessment Year (AY) 2025-26 (Financial Year 2024-25) by releasing the Excel-based offline filing tools for ITR-2 and ITR-3. This means you can start preparing your tax returns now, well ahead of the September 15, 2025, deadline.
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- ITR-2: This form is for individuals and Hindu Undivided Families (HUFs) earning income from salaries, multiple properties, capital gains (including foreign assets), or as company directors. Important: If you have income from business or professional activity, ITR-2 is not for you.
- ITR-3: This form is for those with income from business or professional activities, such as freelancers, sole proprietors, and partners in firms.
Why Are These Tools Important?
These Excel utilities are a game-changer for preparing your taxes. They offer:
- Offline Convenience: Work on your tax return even without an internet connection.
- Error Reduction: Built-in checks help validate your entries, minimizing mistakes.
- Seamless Upload: Generate a .json file that’s ready to be uploaded to the e-filing portal.
- Early Start: Get a head start on your filing to avoid last-minute stress.
- Up-to-Date: These tools are updated to reflect the latest tax law changes for the current assessment year.
How to Use the Utilities:
- Download: Head over to the official Income Tax e-filing portal (incometax.gov.in). Look for the “Downloads” section, select AY 2025-26, and grab the Excel utility for either ITR-2 or ITR-3.
- Fill it Out: Open the Excel file and accurately input all your personal, income, deduction, and tax details.
- Validate: Use the built-in validation features to check for any errors.
- Generate & Upload: Once everything’s correct, generate the .json file. Then, log in to the e-filing portal and upload this file to submit your return.
To ensure a smooth filing experience, double-check that you’re using the correct ITR form and that all your information is accurate. While the Excel utilities are live, keep an eye out for the full online filing facility for ITR-2 and ITR-3 to be enabled on the portal soon!
