Archive · 30 May 2025
IT Dept. Releases ITR-1 & ITR-4 Excel Utilities; Deadline Extended
The Income Tax Department has released updated Excel tools (ITR-1 and ITR-4) for filing taxes for the 2024-25 financial year (assessment year 2025-26).
Taxpayers can now use these tools to prepare their tax returns.
ITR-1 is for individuals with income from salary, one house property, or interest.
ITR-4 is for individuals, HUFs, and firms opting for presumptive income.
The filing deadline has been extended to September 15, 2025.
A new rule in ITR-1 prevents incorrect filings by disqualifying those with income from specific sources.
This is a change to improve accuracy and prevent errors.
The Income Tax Department released Excel utilities for ITR-1 and ITR-4.
These utilities are for Assessment Year 2025-26 (FY 2024-25).
Taxpayers can now file their returns.
The filing deadline for ITR-1 and ITR-4 has been extended.
A new validation rule has been added to ITR-1 to prevent incorrect filings.
- Who
- The Income Tax Department and eligible taxpayers.
- What
- Release of Excel utilities for ITR-1 and ITR-4.
- When
- Released on May 30, 2025.
- Where
- From the official Income Tax Department portal.
- Why
- To allow taxpayers to file their returns and improve accuracy.
Taxpayers
Income Tax Department
ITR-1 Filing Accuracy
Taxpayers
Taxpayers could have mistakenly filed under ITR-1 with incorrect income types leading to defective return notices.
Income Tax Department
The IT department implemented a new validation rule to prevent incorrect filings by disqualifying returns filed under ITR-1 if certain TDS codes are present.
- Forms Released
- ITR-1 and ITR-4 Excel Utilities
- Assessment Year
- For Assessment Year 2025-26 (FY 2024-25)
- ITR Filing Deadline
- Extended to September 15, 2025
- Who Can File ITR-1
- Salaried individuals and those with income up to Rs 50 lakh.
- Who Can File ITR-4
- Individuals, HUFs, and firms with income up to Rs 50 lakh.
- ITR-1 Income Sources
- Income from salary, interest, one house property, and LTCG
- ITR-4 Income Sources
- Income from business or profession under presumptive taxation and LTCG.
