Income Tax Dept Launches AY 2026-27 ITR Utilities: File Now

In a timely announcement, the Income Tax Department on Friday unveiled Excel utilities for ITR-1 and ITR-4 on the e-filing portal, marking the commencement of return filing for Assessment Year 2026-27 (FY 2025-26). This development enables taxpayers to begin preparations well ahead of the deadline. Via its official X handle, the department confirmed that both online and offline filing options are now live. Offline tools allow form completion without internet, followed by JSON generation and portal upload post-verification. Non-audit cases must file by July 31. The suite of seven ITR forms addresses diverse profiles: ITR-1 for salaried residents earning up to Rs 50 lakh, and ITR-4 for presumptive taxation cases including individuals, HUFs, and firms under the same income cap. Preceding this, CBDT introduced modified forms emphasizing disclosures on long-term capital gains, share buyback losses, and select business dealings. Fiscal data from CBDT highlights robust collections, with net direct taxes for FY 2025-26 climbing 5.12% to Rs 23,40,406 crore year-on-year. Such progress reflects improved digital infrastructure and awareness campaigns. Tax professionals recommend verifying form suitability and organizing financial records promptly. With utilities accessible early, this season promises smoother compliance for millions of filers.