New Delhi: The Income Tax Department has activated the Excel utility for ITR-2 filing for Assessment Year 2026-27, which relates to Financial Year 2025-26.
Taxpayers can now download the utility from the official income tax portal and start preparing their income tax returns.
Earlier, on May 17, the department had already enabled ITR-1 and ITR-4 filing facilities.
Who Should File ITR-2?
ITR-2 is mainly meant for individuals who earn income from sources other than salary.
This includes income from capital gains, multiple house properties, foreign assets, or other investments.
Salaried taxpayers with additional earnings from shares, mutual funds, or property sales may also need to use this form.
Return Can Be Prepared Offline
The Excel utility allows taxpayers to prepare their returns without an internet connection.
Users can enter all tax details in the Excel sheet offline. Once the form is completed, the utility generates a JSON file, which must then be uploaded on the Income Tax Department’s portal.
People filing returns for the first time must register on the portal using their PAN and Aadhaar details.
Last Date To File Return
For regular taxpayers, the last date to file income tax returns is July 31, 2026.
For certain business taxpayers filing ITR-3 and ITR-4, the deadline is August 31, 2026.
If taxpayers miss the July 31 deadline, they can still file a belated return till December 31 by paying a penalty.
Experts Advise Waiting Till Mid-June
Tax experts have advised salaried employees not to file returns too early.
Companies have time till May 31 to submit TDS details. After submission, it usually takes 10 to 15 days for the information to appear in Form 26AS and AIS records.
Filing returns before June 15 may lead to data mismatches, which could delay tax refunds.
Important Checks Before Filing
Experts said taxpayers should carefully verify a few documents before filing returns.
They should collect Form 16 from their employer, check AIS and TIS records for correct bank interest and stock market details, and ensure their mobile number is linked with Aadhaar and PAN for smooth e-verification.
