ITR Filing Made Easier: New Excel Utilities for ITR-2 & ITR-3

Filing your Income Tax Return (ITR) just got simpler! The Income Tax Department has released new Excel utilities for ITR-2 and ITR-3, making it easier for taxpayers with capital gains (including from crypto) to file their returns for Assessment Year 2025-26 (FY 2024-25). The deadline for filing is September 15, 2025.

Key Changes for ITR-2 & ITR-3

These new utilities come with important updates to streamline the tax filing process:

Revised Capital Gains Schedules

Navigating capital gains calculations is now easier with revised schedules within the Excel utilities. This simplifies reporting gains from various assets like stocks, property, and cryptocurrencies.

Updated Asset and Liability Disclosure Thresholds

For taxpayers with an annual income exceeding ₹1 crore, the asset and liability disclosure requirements have been updated. The new utilities reflect these changes, providing clear guidance on what needs to be reported.

Mandatory TDS Section Code Reporting

Accurate reporting of Tax Deducted at Source (TDS) is crucial. The Excel utilities now require mandatory reporting of the TDS section code, ensuring greater accuracy and reducing the chances of errors.