Mumbai, July 11: The Income Tax Department has officially released the Excel-based utilities for ITR-2 and ITR-3 forms for the Assessment Year (AY) 2025–26, enabling individuals with more complex income sources, including capital gains, cryptocurrency, and professional income, to begin filing their tax returns. The announcement was made via the department’s official X, formerly Twitter, handle, saying, “Attention Taxpayers! Excel Utilities of ITR-2 and ITR-3 for AY 2025-26 are now live and available for filing.”

This latest rollout follows the earlier launch of utilities for ITR-1 and ITR-4, which primarily serve salaried individuals, pensioners, and small business owners. With the addition of ITR-2 and ITR-3, the department has now opened up the filing process for a broader section of taxpayers, especially those with incomes from capital markets, foreign assets, business or profession, and virtual digital assets such as cryptocurrencies. ITR E-Filing 2025: Know How To File Income Tax Return Online at incometax.gov.in Before September 15 Deadline.

Notably, only the Excel-based utilities have been released so far. Taxpayers who prefer or are required to file directly through the online e-filing portal will have to wait until that facility is enabled. The department is expected to notify the launch of the online filing system for these forms separately in the coming weeks.

What Is ITR-2 Excel Utilities Released by IT Department

The ITR-2 form is meant for individuals and Hindu Undivided Families (HUFs) who do not have income from business or profession but may earn income from capital gains, multiple house properties, or foreign assets. It also includes taxpayers who have to report income of a spouse or minor child, which needs to be clubbed with their own. A major update in ITR-2 is the relaxation in asset and liability disclosure for those with income between INR 50 lakh and INR 1 crore. Additionally, capital gains reporting has been bifurcated to distinguish transactions made before and after July 23, 2024, in line with amendments under the Finance Act 2024. ITR Filing 2025: Who All Need To File Their Income Tax Return by July 31? Check Details.

All About ITR-3 Excel Utilities

The ITR-3 form is applicable to individuals and HUFs who earn income from business or profession. The threshold for mandatory reporting of assets and liabilities has now been raised from INR 50 lakh to INR 1 crore, reducing the compliance burden for many. The form also includes enhanced disclosure requirements for tax deductions under Sections 80C and 10(13A), among others.

ITR Filing Deadline Extended

The Central Board of Direct Taxes (CBDT) has also extended the filing deadline from the standard July 31 to September 15, 2025. The extension comes in view of the substantial changes introduced in the ITR forms this year, including updated schedules and compliance requirements. The department acknowledged that taxpayers and professionals would need additional time to adapt to the revised structure.

To access the Excel utilities, taxpayers can visit the official income tax e-filing portal and download the respective ITR utility from the “Download” section. The file is provided in a ZIP format and contains an Excel spreadsheet with various schedules to be filled. After completing the form, users must upload it to the portal and verify their return within 30 days of submission.

(The above story first appeared on LatestLY on Jul 11, 2025 05:12 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).