The Income Tax Department has finally released the Excel utilities of ITR Forms 2 and 3 for AY 2025-26 after 100 days passed since the start of the ITR filing season.
This has brought relief to crores of taxpayers who were not able to file their returns till now, especially those whose income was related to salary, house property, capital gains and business or profession.
What is the whole matter?
The process of filing income tax returns for the financial year 2024–25 started in May end, but only the utility of ITR-1 and ITR-4 was available that time. ITR-1 and ITR-2 utilities were released in late May and early June. At the same time, the utilities of the rest of the forms – including for ITR-2 and ITR-3 – were pending till now.
ITR-2 is usually filed by individuals whose income is from salary, more than one house property and capital gains.
ITR-3 is for those whose income is from business or profession, which sometimes involves complex details like foreign assets or share trading.
Who are eligible to file ITR-2 Form
-Individuals or members of the HUF (Hindu Undivided Family)
-Resident, RNOR and Non-Resident eligible for ITR-2
-Salaried or pensioned individuals having income exceeding Rs 50 lakh.
-Individuals earning capital gains from the sale of shares, mutual funds, immovable property, and virtual digital assets.
Also read: Is tax refund getting delayed? Know how to track, lodge a complaint and get quick payment
Eligibility Criteria For Filing ITR-3
Who are eligible to file ITR-3
Individuals and Hindu Undivided Family (HUFs) are eligible to file ITR-3 if income is earned from business or profession.
ITR-3 filing is applicable when there is income from:
-Business or profession (both tax audit and non-tax audit cases presumptive taxation is not opted)
-Salary income
-House property rental income
-Short or long-term capital gains
-Income from dividends, lottery and other sources.
-Income (interest and remuneration) as a partner in a firm.
Why is this delay important?
With the Excel utility of these forms being released after 100 days, taxpayers now have limited time left to plan their taxes and file returns.
The utility of other important forms like ITR-5, 6 and 7 is still awaited.
15th September 2025 is the last date for those taxpayers whose audit is not mandatory. If there is no further extension, then filing will have to be started soon.
Experts’ concern: Lack of transparency and time
Tax experts and chartered accountants say that such delays not only cause problems to taxpayers but also give them very little time to file returns, leading to problems like errors and delayed refunds.
What’s next?
Now that the utility for ITR-2 and 3 forms is finally available, the concerned taxpayers should update their financial details and start preparing returns immediately without any delay.
The Income Tax Department is expected to release the utility for ITR-5, 6 and 7 soon so that professionals, companies and trusts can also file returns easily.