- Advertisement -
Home Personal Finance New ITR Tool: Filing income tax return is easier than ever with...

New ITR Tool: Filing income tax return is easier than ever with this new tool, you can file ITR yourself

0
New ITR Tool: Filing income tax return is easier than ever with this new tool, you can file ITR yourself
New ITR Tool: Filing income tax return is easier than ever with this new tool, you can file ITR yourself

ITR 2025: Utility tool will help salaried individuals and small businesses to easily file their income tax returns for FY 2024-25 on their own. Currently, this tool is available for ITR-1 (Sahaj) and ITR-4 (Sugam) forms.

ITR 2025: The Income Tax Department has released an offline utilities tool to help small taxpayers. With its help, salaried persons and small businessmen can easily file income tax returns for the financial year 2024-25 on their own. Currently, this tool is available for ITR-1 (Sahaj) and ITR-4 (Sugam) forms.

This facility will especially provide relief to those who file ITR offline instead of online. Earlier, on May 30, the Income Tax Department had released an Excel-based offline utility tool for both these forms. In this, taxpayers can prepare ITR by downloading the Excel file from the department’s website.

After this, the department has recently released the JavaScript/Json based General Offline Facility Tool. This is a kind of software through which income tax returns can be filed. This too has to be downloaded from the Income Tax Portal.

What is its specialty

This utility tool helps the taxpayer to prepare income tax returns offline. Their design is based on the new system of the Income Tax Department. This tool provides pre-filled data. This data is taken from the e-filing portal, which saves time and almost eliminates the scope of errors while filling the information.

Apart from this, taxpayers can easily verify the form. This tool creates the filled ITR form in the JSON file format, which has to be uploaded on the Income Tax Portal. It works almost like the Excel tool, just the design and working method of both is slightly different.

Why is it important

According to the Income Tax Department, this step has been taken to make the process of filing returns easy and smooth for the taxpayers. This tool can help you prepare accurate returns without making any error in tax calculations.

Who can use it?

1. Salaried Individuals (ITR-1): Those whose total annual income is up to Rs 50 lakh and whose source of income is salary, one house property, interest, or other small sources.

2. Small Businessmen and Professionals (ITR-1): Individuals, Hindu Undivided Families and firms earning income from small business or profession, provided their total income is less than Rs 50 lakh.

3. Resident Individuals: This tool is specially designed for resident individuals who are ordinarily resident in India and whose income is from limited sources.

4. Taxpayers under new and old tax regime: The tool allows filing of returns under both tax regimes (new and old). Exemptions and deductions are limited in the new tax regime, while various exemptions are available in the old regime.

How to use

  • Go to the e-filing portal (www.incometax.gov.in) and download the Common Offline Utility tool required for ITR-1 or 4 from the ‘Downloads’ section.
  • Install it on your computer. If already installed, the new version will be updated as soon as the internet is connected.
  • After opening it, the taxpayer has to select his PAN and assessment year (2025-26). Then, the pre-filled data has to be downloaded or exported in JSON format.
  • This data will have the taxpayer’s income, TDS and other information pre-filled, which the taxpayer can verify and correct.
  • After filling the data, this tool will allow filling all the important parts of the form and verify them. After filling the information, taxpayers can create a JSON file.
  • This file has to be uploaded on the e-filing portal to complete the return filing process.

DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com

Exit mobile version