When can taxpayers file their returns using the new ITR-2 and ITR-3 utilities?

Taxpayers can now download and use the updated excel utilities to prepare and submit their returns for the financial year 2024-25 well ahead of the September 15, 2025 deadline.

Why were major updates required in the ITR-2 and ITR-3 forms?

The recent overhaul of the capital gains tax regime for FY 2024-25 necessitated extensive changes in the forms and related utilities, causing delays in development, integration, and testing.

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Income Tax Department Releases ITR-2 and ITR-3 Utilities for FY 2024-25

Q: What are the ITR-2 and ITR-3 forms?

The ITR-2 form is for individuals and Hindu Undivided Families (HUFs) with income from salary, more than one house property, capital gains, or other sources, excluding business or professional income. The ITR-3 form is for individuals and HUFs with business or professional income, including freelancers, doctors, consultants, and partners in firms.

11 Jul

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Summary

Income Tax Department launched ITR-2 and ITR-3 utilities for FY 2024-25
Taxpayers can now download and file returns ahead of the September 15, 2025 deadline
Overhaul of capital gains tax regime required extensive changes in the forms and utilities

Income Tax Department Releases ITR-2 and ITR-3 Utilities for FY 2024-25

The Income Tax Department has launched the excel utilities for ITR-2 and ITR-3 forms for the assessment year 2025-26. This allows taxpayers to now download and file their returns for the financial year 2024-25 well in advance of the September 15, 2025 deadline.

ITR-2 is meant for individuals and Hindu Undivided Families (HUFs) with income from salary, more than one house property, capital gains, or other sources, excluding business or professional income. ITR-3 is for individuals and HUFs with business or professional income, including freelancers, doctors, consultants, and partners in firms.

Experts note that the recent overhaul of the capital gains tax regime for FY 2024-25 has required major updates in these forms and related utilities. This caused delays in development, integration, and testing, but taxpayers can now use the updated excel utilities to prepare and submit their returns ahead of the deadline.

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