Attention taxpayers! Excel Utility for ITR-1 and ITR-4 enabled — check details here
The Income-Tax (I-T) Department has on May 30 made available for taxpayers the facility of Excel Utility for ITR-1 and ITR-4 for AY2025-26.
In a post on social media platform X, the I-T Dept said, 'Attention taxpayers! The Excel Utility for ITR-1 and ITR-4 for AY 2025-26 has been enabled and is now available for taxpayers.'
As on date, the I-T Dept notified income tax return (ITR) forms 1, 2, 3, 4 and 5. These forms are meant to be used for filing income tax returns (ITR) for FY 2024-25 / AY 2025-26.
On April 29, the department notified ITR-1 (sahaj) and ITR-4 (sugam). This was followed by notifying the ITR form 3 on April 30. Later, ITR forms 5 and 2 were notified on May 1 and May 3, respectively. ITR-1: This form is meant for resident individuals with a total income of up to ₹ 50 lakh.
50 lakh. ITR-2: ITR-2 can be filed by individuals or Hindu Undivided Families (HUFs) who are not eligible to file ITR-1 (Sahaj).
ITR-3: The ITR-3 form is meant for individuals and HUFs engaged in business or profession requiring the maintenance of elaborate books of accounts.
ITR-4: ITR-4 can be filed by a Resident Individual/ HUF/ Firm (other than LLP) who has income not exceeding ₹ 50 lakh during the FY, income from business and profession computed on a presumptive basis u/s 44AD, 44ADA or 44AE, income from salary/pension, one house property, agricultural income (up to ₹ 5,000) and other sources.
50 lakh during the FY, income from business and profession computed on a presumptive basis u/s 44AD, 44ADA or 44AE, income from salary/pension, one house property, agricultural income (up to 5,000) and other sources. ITR-5: This income tax form can be used to file ITR by a firm, Limited Liability Partnership (LLP), Association of Persons (AOP), Body of Individuals (BOI), and Artificial Juridical Person (AJP).
The I-T Dept on May 27 said it has extended the ITR filing due date for FY 2024-25 (AY 2025-26) from July 31, 2025, to September 15, 2025. The decision was made after a delay in issuing the notification of ITR forms.
In a statement, the Central Board of Direct Taxes (CBDT) said that in view of the extensive changes introduced in the notified ITRs, and considering the time required for system readiness and rollout of ITR utilities for AY 2025-26, the due date for filing returns has been extended.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Tighter H-1B rules, tech layoffs push Indians to alternative US visas
As scrutiny around H-1B work visa applications intensifies and tech layoffs continue to rattle the US job market, Indian professionals and their employers are increasingly exploring alternative visa routes to live and work in the US, reported The Economic Times. Among the most sought-after options now are the L-1 and O-1 non-immigrant visas. Simultaneously, there's a significant uptick in interest for the EB-5 immigrant investor visa programme. 'These trends aren't entirely new, but we've seen a sharp rise in the number of people reaching out over the past few months,' Gnanamookan Senthurjothi, a US immigration attorney, told The Economic Times. The shift comes as the US, under the Donald Trump administration, has ramped up its scrutiny of H-1B visa applications since the start of the year. According to recent data from the United States Citizenship and Immigration Services (USCIS), H-1B visa approvals this year dropped by 27 per cent Year-on-Year—marking the lowest since the pandemic-hit FY21. Each year, the US allots 85,000 H-1B visas to foreign professionals, with Indians accounting for nearly 70 per cent of the total. However, a wave of layoffs across major tech firms including Microsoft, Google, and Intel has deepened uncertainty among Indian workers in the US. 'Our clients have become more fearful and anxious, particularly regarding international travel and visa 'stamping' at consular posts abroad,' said Joel Yanovich, attorney at the Murthy Law Firm. 'I don't think a day goes by where I don't have a client or two asking me whether it's safe to travel.' Rise in L-1 and O-1 applications In response to growing apprehensions around the H-1B process, more applicants are turning to L-1 and O-1 visas—both of which do not have annual numerical limits. The L-1 visa facilitates intracompany transfers, while the O-1 visa is designed for individuals with extraordinary ability in fields such as science, arts, or business. 'Part of this [spike in demand] is seasonal, based on people not being selected for the H-1B lottery,' Yanovich said. 'But part of it appears to stem from employers and individuals hoping to avoid the heightened scrutiny they fear the H-1B program may face.' Canada as a staging ground Adding to the shift, companies are also considering temporary assignments outside the US as a strategic move to qualify employees for other visa categories. 'What we are also seeing is that some companies are transferring their employees to countries like Canada or elsewhere outside the US for a short time so that they will qualify for the L-1 visa,' Sukanya Raman, country head – India & GCC practice team at Davies & Associates LLC, was quoted as saying by The Economic Times. This tactic typically applies to professionals in managerial roles who may later transition to the EB-1C visa, which can lead to a green card, she said. There's also rising interest in the EB-2 NIW (National Interest Waiver)—a green card category for individuals with advanced degrees whose work is deemed to benefit the US on a national level. EB-5 investor visa sees surge The EB-5 immigrant investor visa has also seen a notable 50 per cent increase in demand since January 2025, according to Raman. 'These are in current status for Indian nationals, which means that visas are available and applicants can receive their authorisation and travel documents in just 3-6 months,' she noted. 'This allows them to stay in the US legally.' Raman also highlighted a growing number of Indian families on H-1B visas applying for EB-5, particularly when their children are nearing the age of 21 and risk 'aging out'—becoming ineligible to stay as dependents under their parents' visa status.
Time of India
2 hours ago
- Time of India
No more visa fee waivers: Kuwait imposes standard KD150 charge across all sectors
Photo: Pexels In a significant overhaul of its labour market framework, Kuwait has officially ended fee exemptions for work visa transfers, introducing a standard KD150 charge for each work permit issued across a wide range of sectors. The policy change was enacted under Ministerial Resolution No. 4 of 2025, announced on Thursday, June 6, by First Deputy Prime Minister and Interior Minister Sheikh Fahd Al Youssef. The move marks a major shift in Kuwait's approach to labour regulation, aimed at tightening oversight and eliminating preferential treatment for specific industries. Key repeals and new requirements At the core of the change is the repeal of Article 2 of the 2024 resolution, which had previously allowed exemptions from work permit fees for certain sectors, depending on manpower requirements approved by the Public Authority for Manpower. With the exemption lifted, all work permits issued under previously exempted categories will now incur the KD150 fee, assessed on a case-by-case basis. Additionally, Article 5 of the 2024 resolution has been abolished, removing the requirement for the Public Authority for Manpower's Board of Directors to conduct a one-year impact assessment before implementing the fee structure. This eliminates the need for any further formal review or recommendation process. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo These adjustments also modify earlier provisions under Ministerial Resolution No. 3 of 2024, further streamlining the issuance and transfer of work permits and standardising related fees. Sectors now affected by the KD150 fee The newly standardised fee applies to a broad spectrum of public and private sector organisations, including: Government-owned companies Hospitals, clinics, and medical centres licensed by the Ministry of Health Private universities, colleges, and schools Foreign investors accredited by the Investment Promotion Authority Sports clubs and federations Public benefit associations, charities, endowments, labour unions, and cooperative societies Licensed agricultural operations, including hunting, livestock pens, sheep and camel grazing Commercial and investment properties Industrial facilities and small-scale industries Previously, these sectors were exempted from paying additional fees, contingent on staffing needs evaluated by the Public Authority for Manpower. A broader push for labour market standardisation The new fee structure is part of Kuwait's wider effort to unify labour regulations and eliminate inconsistencies across sectors. The KD150 fee will now apply uniformly to each work permit issued or transferred, regardless of sector or employer classification. By scrapping exemptions once granted to entities like hospitals, schools, agricultural operations, and charitable organisations, the government aims to close regulatory loopholes and ensure equal treatment in how foreign labour is managed. The repeal of Article 5, previously mandating a one-year impact study, also signals a move toward faster implementation of reforms without further delay or discretionary reviews, reinforcing a shift to more centralised and uniform oversight.
News18
4 hours ago
- News18
Received Form 16/16A? Here's What You Must Do Before Filing ITR 2025
Last Updated: Incorrect TDS reporting can lead to tax mismatches, refund delays, or notices from the Income Tax Department. ITR Filing 2025: The Income Tax Return (ITR) filing season is underway following the reinstatement of form utilities. Salaried taxpayers are advised to await their Form 16 or Form 16A, the Tax Deducted at Source (TDS) certificates that enable them to calculate their tax liabilities for the financial year. These are issued by employers. Understanding Form 16 and Form 16A is crucial for both deductors and taxpayers. These forms serve as vital proof of TDS and are essential for accurate and efficient ITR filing. Follow these tips: Collect a Valid Form 16/16A: Obtain Form 16 or 16A from your employer or deductor. Ensure it is generated from TRACES; no substitutes are acceptable. Verify TDS Details: Cross-check the TDS information in Form 26AS or the Annual Information Statement (AIS) against your Form 16/16A to ensure accuracy. Avoid ITR Filing Errors: Accurate forms and verified data prevent notices from the Income Tax Department and ensure timely refunds. 'E- Filing Made Easy"Form 16/16A – The Starting Point of Your ITR Journey 🔷Deductors: Ensure Form 16/16A is generated only from TRACES for authenticity.🔷Taxpayers: Always cross-check TDS with your Form 26AS/AIS before filing. Correct forms help avoid mismatches and build… — Income Tax India (@IncomeTaxIndia) June 6, 2025 Match PAN Count: Verify the number of reported PANs against the previous year's data. File corrections for any discrepancies. File Correct and Complete Reports: Accurate reporting is crucial for deductees' tax credits. Errors can delay or impact their refunds or liabilities. Use TRACES Website Only: Generate Form 16/16A exclusively from the TRACES portal. This ensures accurate reflection of deductee details in their ITR. Incorrect TDS reporting can lead to tax mismatches, refund delays, or notices from the Income Tax Department. Adhering to the official TRACES process, whether deducting or receiving TDS, ensures transparency and streamlines the e-filing process.
