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ITR Filing 2025: The Central Board of Direct Taxes (CBDT) has finally published the Excel Utility for ITR-2 and ITR-3 for Assessment Year 2025-26 on the Income Tax e-Filing portal. Now taxpayers have the facility to download these utilities and file their returns.
The Income Tax Department has published a notice stating, “Excel utilities for ITR-2 and ITR-3 for Assessment Year 2025-26 have been updated on the filing portal. For those who wish to file their utilizations two-way mapping has been provided for seamless filing.”
Offline utilities for ITR-2 and ITR-3 are made to allow users to capture details while offline and submit them later on.
Which ITR 2 Filers
ITR-2 can be filled by Individual and Hindu Undivided Families (HUFs) whose income is not derived from any business or Working Professional. The form is primarily associated with salary income, pension, rental income, capital gains, agricultural income (if it exceeds ₹5,000), and other income streams.
Who is eligible to file ITR-2 (for FY 2024-25/Assessment Year 2025-26)?
Only individuals earning from the following sources should file ITR-2:
Salary remuneration or pension
Rental income from multiple house properties
Capital gains or losses from shares, mutual funds or properties
Other income, which may include lottery, race betting or other legitimate activities
Agricultural income exceeding ₹5,000
An individual who is non-resident or falls under “resident not ordinarily resident”
Total income exceeds ₹50 lakh
You are a director in a company or have shareholding in an unlisted company
Who is not eligible to file ITR-2?
Individuals or HUFs whose income is derived from a business or profession
If you qualify to submit ITR-1, you may also submit ITR-2 at your discretion. It is however advisable to submit ITR-1 if you qualify for it.
When does ITR-1 become invalid and ITR-2 becomes applicable?
If your income from capital gains under section 112A exceeds ₹1.25 lakh or if you need to carry forward any losses, you will need to file ITR-2.
What documents are necessary for filing ITR-2?
If the income is in the form of a salary: Form 16 (from employer)
If there is TDS on the interest payment: Form 16A (from the paying bank or other applicable entities)
For TDS reconciliation: Form 26AS (available in e-filing portal)
For HRA claim: Receipts for the rent paid (if not submitted to the employer).
For income from share trading: Annual capital gain/loss statement.
For generating income: Bank’s passbook or FD receipts.
For rental income: Details of the tenant, property tax payments, home loan interest, etc.
For claiming loss for the current year: Any documents linked to the loss.
For claiming loss from prior year: Relevant ITR-V for that year.
For claiming benefits under 80C, 80D, 80G, 80GG: relevant supporting documents like LIC policy documents, health insurance documents, donation slips, tuition fee receipts, and rent documents.
Who is the ITR-3 form designated for? Explain in easy words.
The ITR-3 form is designated specifically and unique for some people filing for Income Tax Return (ITR). It is designed for individuals who own businesses or earning from any forms of self employment. The form is collected for purposes of income tax computation by the income tax department as necessary financial data will be injected in the tax computation.
Who is eligible to fill out ITR-3?
ITR-3 is applicable to individual taxpayers or Hindu Undivided Families (HUFs) that meet the following criteria：
Self-employed professionals or business owners
Both resident and non-resident Indian individuals
Individuals receiving pension income
Individuals earning rental income from residential properties, irrespective of the number of properties.
Individuals owning shares of unlisted companies
Individuals earning income from salary, commission, interest, bonus, or wages from various sources.
Additionally, the following categories of taxpayers are eligible to file ITR-3:
Earning rental income from one or more residential properties
Income derived from legal gambling activities or lotteries
Realized taxable capital gains.
If you own a proprietorship business
Holding foreign assets or earning foreign income.
Who is ineligible to file ITR-3?
An individual who is a partner in a partnership firm and deriving income from such partnership is ineligible to file ITR-3. Such individuals have to use ITR-2.
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