ITR: Attention taxpayers! Excel utility for ITR-5 and ITR-7 released — Here's how to use, which forms to choose

The Income-Tax Department has enabled Excel Utility for the ITR-5 and ITR-7 forms for taxpayers on its e-filing portal for financial year 2025-26 (FY26) i.e. assessment year 2026-27 (AY27). Notably, availability of excel utility means that you can prepare your returns offline before uploading them digitally.

The authority had earlier also released Excel Utility for the ITR-1 (Sahaj), ITR-2, ITR-3, and ITR-4 (Sugam) online forms. You can find the same here: https://www.incometax.gov.in/iec/foportal/downloads/income-tax-returns

Taxpayers have till 31 August to file their returns by logging into the e-filing portal with your User ID and password. The deadline was extended by a month from 31 July earlier.

Filing returns? Check which ITR form to choose

It is important to use the correct ITR form to ensure smooth and timely processing by the tax department. In fact, filing your returns with the wrong form may trigger a notice. Here's a look at the different forms available:

• ITR 5: This form is meant for persons other than individual, Hindu Undivided Family (HUF), company and person filing Form ITR-7.
• ITR 7: This form is meant for persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only (9 July)
• ITR-1: This form is meant for resident individual taxpayers with a total income of up to ₹50 lakh, salaried individual with one house property, and income from other sources.

• ITR-2: The ITR-2 form can be filed by individual taxpayers or HUFs who are not eligible to file ITR-1 (Sahaj) i.e. do not have business income.
• ITR-3: The ITR-3 form is meant for individual taxpayers and HUFs engaged in business or profession requiring the maintenance of elaborate books of accounts.
• ITR-4: ITR-4 (Sugam) can be filed by a Resident Individual/ HUF/ Firm (other than LLP) who has income not exceeding ₹50 lakh during the FY, income from business and profession computed on a presumptive basis u/s 44AD, 44ADA or 44AE, income from salary/pension, one house property, agricultural income (up to ₹ 5,000) and other sources.

ITR filing process: How to use Excel Utility?

Notably, all ITR forms for AY27 / FY26 have been notified by the tax department. You can file returns by logging into the e-filing portal with your User ID and password. Note: All first-time users have to register using Aadhaar, PAN and other details.

Taxpayers can visit the official portal (here – https://www.incometax.gov.in/), download the appropriate ITR form, fill them out, generate a JSON file, and upload it online after proper verification and cross-checking of details.

What precautions should I take while filing the return of income?

• Carefully select the tax regime.
• Download AIS and Form 26AS and check the actual TDS / TCS / tax paid. If you see any discrepancy, you should reconcile it with the Employer / Tax Deductor / Bank.
• Compile and carefully study the documents to be referred to when filing your ITR, like bank statement / passbook, interest certificates, receipts to claim exemptions or deductions, Form 16, Form 26AS (Annual Information Statement), investment proofs, etc.
• Ensure details like PAN, permanent address, contact details, bank account details, etc. are correct in the pre-filled data.

• Identify the correct ITR form (from ITR-1 to ITR-7). Provide all the details in return form such as total income, deductions (if any), interest (if any), taxes paid / collected (if any), etc. No documents are to be attached along with ITR form.
• e-File the return of income on or before the due date. The consequences of delay in filing returns include late filing fees, losses not getting carried forward, deductions and exemptions not being available.
• After e-Filing the return, E-Verify it. If you want to manually verify your return, send the signed physical copy of ITR-V Acknowledgement (by speed post) within appropriate timelines (30 days) of filing the return to Centralized Processing Center, Income Tax Department, Bengaluru 560500 (Karnataka).

Now, with the 31 August deadline fast approaching and concerns that last-minute rush could lead to technical or calculation errors, now is the ideal time to file your returns comfortably.