Income Tax Department Releases Latest Excel-Based Utility for ITR-1 to ITR-7

Last updated: 03 January 2024

The Income Tax Department has recently launched an updated Excel-based utility for filing Income Tax Returns (ITR). Covering a spectrum from ITR-1 to ITR-7, this utility is designed to cater to the diverse filing needs of taxpayers for the Financial Year 2022-23, corresponding to the Assessment Year 2023-24.

ITR 1

For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand.

Document: Utility Excel Based
Date of release of latest version of utility 01-Jan-2024

ITR 2

For Individuals and HUFs not having income from profits and gains of business or profession

Document: Utility Excel Based
Date of release of latest version of utility 01-Jan-2024

ITR 3

For individuals and HUFs having income from profits and gains of business or profession.

Document: Utility Excel Based
Date of release of latest version of utility 01-Jan-2024

ITR 4

For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE and agricultural income upto Rs.5 thousand.

Document: Utility Excel Based
Date of release of latest version of utility 01-Jan-2024

ITR 5

For persons other than- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

Document: Utility Excel Based
Date of release of latest version of utility 01-Jan-2024

ITR 6

For Companies other than companies claiming exemption under section 11

Document: Utility Excel Based
Date of release of latest version of utility 01-Jan-2024

ITR 7

For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only

Document: Utility Excel Based
Date of release of latest version of utility 01-Jan-2024

As individuals and businesses gear up for the upcoming tax season, the release of the enhanced Excel-based utility is anticipated to enhance the overall experience of tax filing, fostering a more transparent and straightforward approach to meeting fiscal responsibilities. Taxpayers are advised to stay informed about the latest updates from the Income Tax Department and utilize the updated utility for a hassle-free filing experience in the upcoming financial year.