Income Tax Alert: Now fill your ITR without internet! New Excel Utility for ITR-1 and ITR-4, learn how!

A very important and good news for all those who fill income tax! You all know how important it is to fill the Income Tax Return (ITR). Now, for all those who fill their ITR-1 and ITR-4, the Income Tax Department has given a large and convenient update.

In fact, the Central Board of Direct Taxes (CBDT) has given ITR-1 (Sahaj) and ITR-4 (accessible) form for Financial Year 2024-25 (ie Assessment Year 2025-26) Excel Utility Has released This directly means that now you have your tax return, especially ITR-1 and ITR-4, Can also prepare without internet connection!

Who will benefit? (ITR-1 and ITR-4 for whom?)

• ITR-1 (Spontaneous): This is the most common return form. This is for those whose annual income is up to ₹ 50 lakh and has an income from salary (salary), a house property (rent or income from their own home), and other sources (eg bank interest income).

• ITR-4 (Sugam): It is for individuals, Hindu undivided families (HUF) and firms (except companies) whose total income is up to ₹ 50 lakh and whose income is through business or profession through an estimated income.

How will this new offline system work? (is very easy!)

This new Excel Utility will make you easier the process of preparing your ITR:

1. Download: First of all, you have the official website of Income Tax Department (www.incometax.gov.in) Excel utility of this ITR-1 or ITR-4 will have to be downloaded.

2. Fill offline details: After downloading utility, you can open it on your computer without an internet connection. In this, a lot of your data (eg PAN details, some part of the salary) will be pre-filled. You just have to fill the rest of your necessary information like income, deductions, and details of tax payment manually.

3. Generate XML File: After filling all the information, this Excel utility will generate your data into an XML file format.

4. Upload online: Now that your XML file is ready, then you will need an internet connection. You can file your ITR by uploading this XML file on the income tax e-filing portal.

What are the big benefits of this facility?

• Internet obstruction is over: Now you can prepare your return as per your convenience, anytime and anywhere (without active internet). When the work is completed, only take the internet connection and upload it.

• Fast and accurate: Pre-filled data already reduced the chances of mistakes and saves time.

• Easy Uses: This becomes very easy for those who file tax by themselves and do not want to help the agent.

This is a large and convenient initiative, which makes the process of tax filing even more accessible. So, keep an account of your income and become responsible citizens by filing your ITR on time!