IT department releases Excel utilities for ITR-1 and ITR-4 for AY 2025-26
The Income tax department on Friday announced that the Excel utility for filing
(ITRs) using forms ITR-1 and ITR-4 for Assessment Year 2025–26 is now available.
"The Excel Utility for ITR-1 and ITR-4 for AY 2025-26 has been enabled and is now available for taxpayers," the department said in a post on X.
Tired of too many ads? go ad free now
With the release of these utilities, taxpayers can now begin filing their returns for income earned during the financial year 2024–25.
This year, the deadline for filing ITR-1 and ITR-4 has been extended to September 15, from the usual July 31, giving taxpayers additional time to comply.
The forms were officially notified on April 29. However, the enabling of the filing utilities was delayed due to 'structural and content revisions' introduced this year.
According to the department, additional time was needed for system development, integration, and testing.
Himank Singla, Partner at SBHS & Associates, welcomed the move. 'It's a big relief to see that the Excel Utilities for ITR-1 and ITR-4 for Assessment Year 2025–26 have been released. I have already filed ITR-4 using the utility, and the process was smooth. There are no major changes in the ITR-4 schema compared to last year,' he said, as quoted an ET report.
However, he highlighted a significant change in the ITR-1 schema. 'A new validation rule has been added: if certain TDS section codes appear—like 194B, 194BB, 194S, 194LA, 195, 196A, 194Q, or 194R—the utility will disqualify the return from being filed under ITR-1. This is particularly relevant for those earning from sources such as online gaming, crypto, lotteries, or property transfers,' Singla explained.
'This is a very welcome and practical change. In earlier years, many filers unknowingly submitted ITR-1 with such income types, only to receive defective return notices. This rule prevents incorrect filings at the source and saves time and confusion,' he added.
Who can file ITR-1 and ITR-4?
ITR-1 is available for resident individuals (excluding "not ordinarily resident") with total income up to Rs 50 lakh. Eligible income sources include salary, one house property, interest income, long-term capital gains under Section 112A (up to Rs 1.25 lakh), and agricultural income up to Rs 5,000. Company directors, individuals with unlisted equity investments, income-tax deferral on ESOPs, foreign assets, or deductions under TDS section 194N are not eligible.
ITR-4 applies to individuals, HUFs, and firms (excluding LLPs) with income up to Rs 50 lakh, and income from business or profession under presumptive taxation (Sections 44AD, 44ADA, 44AE), as well as long-term capital gains under Section 112A (up to Rs 1.25 lakh).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Panaji Residency: Rs 22L curtains offered for ‘posh' Delta guests
Panaji: Delta Corp Ltd, which had a corporate tie-up with the Goa Tourism Development Corporation (GTDC) for Panaji Residency until March 31, approached the corporation to renew the contract. Delta Corp assured the GTDC of consistent occupancy with an approximate payout of Rs 3 crore per year. Delta Corp said that it could utilise a minimum of 6,000 room nights per year at Panaji Residency, translating to Rs 30 lakh of turnover per month. The GTDC's board agreed to renew the corporate tie-up. The GTDC had executed a MoU with Delta Corp Ltd for the period from April 1, 2022, to March 31, 2025. Given that Delta Corp will bring in 'high profile guests', an inspection of the GTDC-owned property found that the curtains need replacement. The GTDC offered to replace the curtains in 45 rooms at the Panaji Residency at a cost of Rs 22 lakh. Delta Corp operates four offshore casinos in the Mandovi under the Deltin brand. The GTDC's Panaji Residency is a stone's throw from the Captain of Ports jetty, where the casinos have offices. 'It is important to maintain high standards of aesthetics to match the expectations of the high profile guests who are staying through the corporate tie-up of Delta Corp Ltd, which is generating assured revenue and occupancy at the Panaji Residency. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo The financial implication is Rs 22 lakh, excluding GST,' said the note submitted to the board. The GTDC, which has Ganesh Gaonkar as the chairman, asked the Goa Handicrafts Rural & Small Scale Industries Development Corporation (GHRSSIDC) to provide rates from empanelled vendors to replace the old curtains and curtain tracks with new ones in 45 rooms. The board agreed to place the order with the GHRSSIDC, a govt-backed body. Pravin Arlekar is the GHRSSIDC chairman. Panaji Residency recently underwent an upgrade, with rooms being painted and fresh wallpaper being fixed.
Time of India
an hour ago
- Time of India
High prices of Dussehri, Langra likely to come down by June 15
Jaipur: The beloved Dussehri and Langra varieties of mangoes are selling at higher prices this season due to low yield this year. However, wholesale dealers at Muhana Mandi say these varieties are expected to see a dip in prices from June 15 onwards. According to wholesale fruit traders at Muhana Mandi, most of the varieties of mangoes have now arrived in the market, including Safeda, Langra, Dussehri, Kesar, Fazali, Totapuri, and Alphonso. "We are getting Dussehri from Rampur, Hathras, Lucknow, and Meerut. Compared to 2024, the supply is less. When we enquired, we were told that yield of Dussehri and Langra varieties has been less this year," said Aabid Rehman, a wholesale dealer at Muhana Mandi. He added that several factors, including abrupt weather conditions during May and ageing trees, are behind the low yield of mangoes this year. "Dussehri is available at Rs 60 to Rs 80 per kg in the wholesale market, but in the retail market it is being sold at Rs 120 to Rs 150 per kg. Last year, prices of Dushehri in May were between Rs 80 to Rs 120 per kg in retail," said Mahesh Hardasani, a wholesale dealer of fruits. Hardasani added that Langra is available at Rs 50 to Rs 60 per kg in wholesale market and in retail between Rs 120 and Rs 150 per kg. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Costco Shoppers Say This Wrinkle Cream Is "Actually Worth It" The Skincare Magazine Undo Wholesale traders said they were expecting a better supply by the second week of June. "By then, we will start getting Dussehri and Langra varieties from almost every part of Uttar Pradesh. Also, in orchards where mangoes are not yet ready, they would be ready by then," said Ramesh Saini, a dealer.
India.com
an hour ago
- India.com
PKL 12 Player Auction: Mohammadreza Shadloui, Devank Dalal Fetch Big Bucks: Check Full List Of Key Players Sold On Day 1
Mohammadreza Shadloui created history on the opening day of the Pro Kabaddi League (PKL) Season 12 auction on Saturday, May 31 in Mumbai after the Season 11's Most Valuable Player was snapped up for Rs 2.23 crores in the very first bid of the day by Gujarat Giants. The two-time PKL champion Shadloui has become the first player to go for more than Rs 2 crores three times in PKL history. Another top player to cross the Rs 2-crore mark was Devank Dalal, who was the Best Raider in PKL 11. Having led the line for the Patna Pirates as they reached the final in the previous campaign, Devank was eventually signed by Bengal Warriorz for Rs 2.205 crores, making him the fifth-most expensive player in the PKL Player Auction. A highlight of the PKL 12 Player Auction is the new Final Bid Match (FBM) rule that allows teams to buy back their released players by matching the final auction bid price, for either one or two seasons. This FBM rule was used by Dabang Delhi K.C. to bring their star raider Ashu Malik back to the team for Rs 1.90 crores for the next two seasons. The other top bids from Category A included Arjun Deshwal, who was signed by Tamil Thalaivas for Rs 1.405 crores, and Yogesh Dahiya, who will ply his trade for Bengaluru Bulls after being signed for Rs 1.125 crores. "The PKL 12 Player Auction for Category A shows how performance plays a key role with Shadloui and Devank being rewarded with exceptional bids of over Rs 2 Crores. We also saw five Crorepatis in this Category, and the new two-season FBM rule making an impact after being used by Patna Pirates and then Dabang Delhi K.C," said Mr. Anupam Goswami, Business Head, Mashal Sports & League Chairman, Pro Kabaddi League. "This sets the stage for the rest of the Categories as the franchises build their squads for another season of exciting kabaddi action," he added. All The Buys From PKL 12 Player Auction Category A On Day 1 Mohammadreza Shadloui Chiyaneh – Rs 2.23 Cr - Gujarat Giants Fazel Atrachali – Rs 30 Lakhs – Dabang Delhi K.C. Pawan Sehrawat – Rs 59.5 Lakhs – Tamil Thalaivas Bharat Hooda – Rs 81 Lakhs – Telugu Titans Vijay Malik – Rs 51.5 Lakhs – Telugu Titans via one-season FBM Shubham Shinde – Rs 80 Lakhs - Telugu Titans Ankush - Rs 30 Lakhs - Bengaluru Bulls Deepak Rajender Singh -- Rs 86 Lakhs – Patna Pirates via two-season FBM Yogesh Dahiya – Rs 1.125 Crores – Bengaluru Bulls Ashu Malik – Rs 1.90 Crores – Dabang Delhi K.C. via two-season FBM Arjun Deshwal – Rs 1.405 Crores – Tamil Thalaivas Devank Dalal – Rs 2.205 Crores – Bengal Warriorz
