Download Offline Utility for ITR 1, 2, 4 & 6 Forms for AY25

Offline Utility Download for ITR 1,2,4 and 6 Forms

The CBDT department has announced some impressive news for taxpayers as they kick off the new ITR forms for FY 2023-24 (AY 2024-25). The department has introduced a wide range of income tax filing utilities on the e-filing portal, including the ITR-1 (Sahaj), ITR-2, ITR-4 (Sugam), and ITR-6 for the Financial Year 2023-24. The taxpayers can file their ITR-1, ITR-2, and ITR-4 forms for the FY 2023-24 can be offline, online, or in Excel format, while ITR-6 is only available in offline mode.

The taxpayers have the option to exclude themselves from the newly introduced tax system by completing Form 10-IEA, which complies with Section 115BAC and IT Rule 21AGA.

Although the utility for filing Income Tax Returns is available, most taxpayers can't submit their ITR immediately for several reasons.

SFT Not Yet Filed: Statement of Financial Transactions (SFT) for the AY 2024-25 must be filed by May 31, 2024, and the Annual Information Statement (AIS) will be updated only after the SFT filing.

Form 26AS Not Updated: Individuals often need to claim TDS or TCS on their income tax returns. The due date for filing TDS returns for the fourth quarter of the assessment year 2024-25 is May 31, 2024, while for Quarter 4 TCS returns, it is May 15, 2024. Therefore, it is likely that the entire TDS won't be recorded before the first week of May, while TCS will only be reflected after May 15th.

Due Date of ITR Filing: Although the deadline to file income tax returns for AY 2024-25 for Non-Tax Audit cases is July 31st and the main ITR utilities are now available, in most cases, ITR cannot be filed until after May. This means that taxpayers have approximately two months to complete their ITR without incurring any late fees.

Late Fees of ITR Filing: The late filing fee for Income Tax Returns (ITR) after the due date is INR 1,000. However, if the income exceeds Rs. 5,00,000, the taxpayer must pay INR 5,000. The belated Income Tax Return (ITR) for the assessment year 2024-25 can be submitted until December 31, 2024

Taxpayers who have no TDS, TCS, or AIS deducted from their income can file their Income Tax Returns.

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