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.
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