The Income Tax Department has officially commenced the filing process for the Assessment Year (AY) 2026-27 by releasing the Excel utilities for ITR-1 (Sahaj) and ITR-4 (Sugam). These utilities are now available for download on the official e-filing portal, enabling taxpayers to prepare their returns offline before submitting them online.
Who Can File ITR-1 and ITR-4?
ITR-1 (Sahaj) is meant for resident individuals with total income up to Rs 50 lakh, having income from salary, one house property, and other sources like interest. ITR-4 (Sugam) is for resident individuals, HUFs, and firms (other than LLPs) with presumptive income from business or profession under Sections 44AD, 44ADA, and 44AE.
Key Features of the New Utilities
- Offline Preparation: Taxpayers can fill in their details offline using the Excel utility and later upload the XML file on the e-filing portal.
- Validation Checks: The utilities include built-in validation to ensure data accuracy and reduce errors.
- Pre-filled Information: Certain data such as Aadhaar, PAN, and bank account details may be pre-filled to simplify the process.
Important Deadlines
The due date for filing ITR for AY 2026-27 is July 31, 2026, for most taxpayers. However, those requiring audit must file by October 31, 2026. Late filing may attract penalties under Section 234F.
How to Download and Use the Excel Utility
- Visit the Income Tax e-filing portal at incometax.gov.in.
- Navigate to the 'Downloads' section and select 'ITR Excel Utility'.
- Choose the relevant assessment year (2026-27) and ITR form (ITR-1 or ITR-4).
- Download the Excel file and enable macros if prompted.
- Fill in all required fields accurately, including personal information, income details, deductions, and tax paid.
- Validate the data using the 'Validate' button to check for errors.
- Generate the XML file and upload it on the e-filing portal under 'e-File' > 'Income Tax Return'.
Changes for AY 2026-27
While the basic structure remains similar, taxpayers should note any updates in tax slabs, deduction limits, or compliance requirements as per the latest budget. The new tax regime under Section 115BAC continues to be an option, with revised rates applicable.
Tax experts advise early filing to avoid last-minute rush and potential technical glitches. Additionally, ensure all income sources are reported, including capital gains, dividends, and interest from bank accounts.
