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Income Tax Department Releases Excel Utilities for Key ITR Forms
17 Jul
Summary
- Income Tax Department releases Excel utilities for ITR-2 and ITR-3 forms
- Deadline for filing income tax returns extended to September 15, 2025
- New changes introduced in ITR-2 and ITR-3 forms for AY 2025-26
The Income Tax Department has recently released the Excel utilities for most of the Income Tax Return (ITR) forms, including ITR-2 and ITR-3. This means that all major utilities for ITR forms 1, 2, 3, and 4 are now available on the income tax portal.
The department had previously extended the tax filing deadline for FY2024-25 (assessment year FY2025-26) from July 31, 2025, to September 15, 2025. This gives taxpayers more time to prepare and file their returns.
The ITR-2 form, which is used by individuals with salary, capital gains, cryptocurrency profits, and other sources of income, has seen several changes. These include new rows to capture dividend income from share buybacks, separate reporting for pre- and post-July 2024 capital gains, and expanded asset and liability disclosures for taxpayers with income over ₹1 crore.
Similarly, the ITR-3 form, which is primarily used by firms undergoing tax audits and individuals trading in futures and options, has also been updated. The mandatory reporting threshold for assets and liabilities has been raised to ₹1 crore, and there are expanded disclosure requirements for deductions and virtual digital assets.
