Quick Summary
The Income Tax Department has released the latest versions of Excel-based utilities and schemas for various Income Tax Returns (ITR) and audit report forms. These updates, aimed at ensuring seamless compliance and improved filing experience, cover ITR 1, ITR 2, ITR 3, Form 10B, Form 29B, and Form 29C.
Key Updates on ITR Forms
ITR 1 (Sahaj)
- Applicability: For resident individuals (other than not ordinarily resident) with total income up to Rs. 50 lakh from salary, one house property, other sources (interest, etc.), and agricultural income up to Rs. 5,000.
- Latest Utility Version: 1.5 (Includes filing under section 139(8A))
- File Size: 2.79 MB
- Latest Version Release Date: 26-Mar-2025
- First Release Date: 01-Apr-2024
ITR 2
- Applicability: For individuals and Hindu Undivided Families (HUFs) not having income from profits and gains of business or profession.
- Latest Utility Version: 1.11 (Includes filing under section 139(8A))
- File Size: 7.64 MB
- Latest Version Release Date: 25-Mar-2025
- First Release Date: 01-Apr-2024
ITR 3
- Applicability: For individuals and HUFs having income from profits and gains of business or profession.
- Latest Utility Version: 1.11 (Includes filing under section 139(8A))
- File Size: 9.96 MB
- Latest Version Release Date: 17-Mar-2025
- First Release Date: 09-May-2024
Updated Form Schemas for Tax Audit Reports
Form 10B (Applicable from A.Y. 2023-24 onwards)
- Purpose: Audit report under clause (b) of the tenth proviso to section 10(23C) and section 12A(1)(b)(ii) for trusts, institutions, universities, or hospitals.
- Latest Schema File Size: 34.2 KB
- Latest Version Release Date: 25-Mar-2025
- First Release Date: 08-Sep-2023
Form 29B
- Purpose: Report under section 115JB for computing book profits of a company.
- Latest Schema File Size: 12.8 KB
- Latest Version Release Date: 25-Mar-2025
- First Release Date: 09-Aug-2022
Form 29C
- Purpose: Report under section 115JC for computing Adjusted Total Income and Alternate Minimum Tax (AMT) for taxpayers other than companies.
- Latest Schema File Size: 14.3 KB
- Latest Version Release Date: 25-Mar-2025
- First Release Date: 09-Aug-2022
Why These Updates Matter?
These updates align the utilities with the latest Income Tax provisions, ensuring smooth e-filing and compliance. Taxpayers and professionals should download the latest versions to avoid errors and benefit from the latest features introduced by the Income Tax Department.
FAQ :
The Income Tax Department has updated the latest versions of Excel-based utilities and schemas for various Income Tax Returns (ITRs) and audit report forms.
The updated ITR forms include ITR 1 (Sahaj), ITR 2, and ITR 3.
The updated audit report forms are Form 10B, Form 29B, and Form 29C.
Form 10B is an audit report under section 10(23C) and section 12A(1)(b)(ii) for trusts, institutions, universities, or hospitals, applicable from A.Y. 2023-24 onwards.
Downloading the latest versions ensures alignment with current Income Tax provisions, facilitates smooth e-filing, helps avoid errors, and allows taxpayers to benefit from the latest features.
The latest utility version for ITR 1 is 1.5, which includes filing under section 139(8A).
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