The Income Tax Department has announced the release of new utilities on its e-filing portal to streamline the tax filing process for various taxpayers.
Key Updates for Taxpayers:
- Updated Return Utilities (ITR-5, ITR-6, ITR-7): The department has released Excel utilities for filing updated returns (ITR-U) for the Assessment Years (AY) 2021-22 and 2022-23. This is in line with the provisions of the Finance Act, 2025, which allows taxpayers to file updated returns to correct errors or report previously undisclosed income.
- Offline Utility for ITR-5 (AY 2025-26): The offline utility for filing ITR-5 for the Assessment Year 2025-26 is now available. This utility allows taxpayers to prepare their return offline and then upload the generated JSON file to the e-filing portal. ITR-5 is applicable to firms, LLPs, AOPs, and BOIs.
The release of these utilities is part of the department’s ongoing efforts to create a more efficient and user-friendly e-filing ecosystem.