The Income Tax Department has released the Excel utility versions of Income Tax Return (ITR) Form 1 and 4 for Assessment Year 2025-26. Now these tools are available for download on the Income Tax e-filing portal.
With this, tax payers can start preparing to file income tax returns for the financial year 2024-25 (AY 2025-26). Filing income tax returns will be much easier with the Excel utility version.
The Income Tax Department has announced the release of Excel utilities through a post on the social media platform X. The Income Tax Department said on X, ‘Attention taxpayers! Excel utility for ITR-1 and ITR-4 for AY 2025-26 has been launched and is now available to taxpayers.’
Process made easy
Himansh Singla, Partner, SBHS & Associates, says, “It is great to see that the Income Tax Department has released Excel Utilities for ITR-1 and ITR-4 for Assessment Year 2025-26. There is no major change in the ITR-4 schema as compared to last year, making it even easier for regular filers and tax professionals.”
He adds, ‘However, a very important change has been made in the schema of ITR-1. A new validation rule has been introduced in the utility itself. Under this, taxpayers having income under special rates or from sources like online games, lottery, crypto, property transfer will have to use ITR-2 or other suitable form.’
Who is ITR-1 form for
For the financial year 2024–25 (assessment year 2025–26), resident individuals (except those classified as not ordinarily resident) having total income up to Rs 50 lakh can file ITR-1 form. This includes income from salary, one house property, other sources such as interest, long-term capital gains up to Rs 1.25 lakh under section 112A and agricultural income up to Rs 5,000.
