ITR Filing 2026: Are You Eligible to File ITR-5? Income Tax Department Releases Excel Utility for AY 2026-27
ITR Filing 2026: If you are a partner in a partnership firm, LLP or certain other business entities and are filing your income tax return, then you need to know this important update. The Income Tax Department has launched the Excel Utility for ITR-5 for Assessment Year (AY) 2026-27 to help eligible taxpayers to easily prepare and file their returns.
But for most salaried people, this update doesn’t change anything. ITR-5 is not for individual taxpayers so if you used to file ITR-1 or ITR-2, you can continue filing those forms.
The Income Tax Department said, while announcing the update, X: “Kind Attention Taxpayers! The Excel Utility for ITR-5 for Assessment Year 2026–27 is now available on the Income Tax e-Filing portal.”
The utility is available for download in the Downloads section of the Income Tax e-Filing portal.
What is the ITR-5 form?
Each form of income tax return is for a certain class of taxpayers. Salaried employees mostly use ITR-1 or ITR-2, while ITR-5 is for certain business entities and organisations.
The Excel utility is for eligible taxpayers to file their return offline on their computer. Once they log in and fill in all the details, they can create a JSON file and upload it on the e-filing portal of the Income Tax Department to complete the filing process.
Who is eligible for ITR-5?
The ITR-5 is available for a variety of entities, including:
Partnerships
Limited Liability Partnerships (LLPs)
Association of Persons (AOP)
Body of Individuals (BOI’s)
Societies cooperative
Registered societies
Local authorities
Artificial Legal Persons (AJPs)
Certain Cases of Representative Assessees
Estates of deceased people
Insolvent estates of persons
Business confidence
Investment funds:
Other eligible entities which are not required to file ITR-7
In simple words, ITR-5 is for business entities other than individuals and specified organisations.
Who cannot use ITR-5?
If you are a salaried employee or a regular taxpayer filing your own return, chances are this form is not intended for you.
The following taxpayers are not eligible to use ITR-5:
Individuals
Hindu Undivided Family (HUF)
ITR-6 filed by companies
Trusts and other entities are required to file ITR-7
Taxpayers covered under the provisions which specifically require filing of ITR-7
How can eligible taxpayers file using the Excel Utility?
The process is pretty straightforward:
Download the ITR-5 Excel utility from the e-filing portal of income tax.
Fill all the required details offline.
Verify the information.
Build the JSON file.
Upload the JSON file on the e-filing portal and file your return.
Taxpayers can also verify the information carefully before filing the return offline.
When is the last date to file ITR 2026?
The deadline varies depending on the type of taxpayer.
July 31, 2026: Individual taxpayers not required to get their accounts audited.
August 31, 2026: Business taxpayers not subject to audit
October 31, 2026: Companies requiring an audit by reason of their accounts.
November 30, 2026: Taxpayers are subject to transfer pricing regulations.
It is important to file the correct ITR form. Using the wrong form could delay processing your return and may require you to file an amended return later.
What income tax law is in effect this year?
The Income Tax Act, 2025 will come into force but the returns for income earned during FY 2025-26 (AY 2026-27) will continue to be filed under the Income Tax Act, 1961.
The Income Tax Department says the delay is because the income being declared is for a financial year that started before April 1, 2026. Accordingly, the old law shall apply to this assessment year.
Also Read: Could Your ITR Decide Your Family’s Motor Accident Compensation? Here’s What The Supreme Court Says
Priyanka Roshan is a business writer and assistant editor at the NewsX website who tracks everything from stock market swings and corporate earnings to personal finance trends and policy shifts. Known for turning fast-moving business developments into sharp, reader-friendly stories, she combines speed, accuracy, and a data-driven approach to break down complex financial news for everyday audiences.
With over 9.5 years of newsroom experience, Priyanka has worked with leading media organisations, including Bussiness, Times Now, and Ping Digital, covering diverse beats such as business, politics, technology, auto, travel, sports, and the world. From live breaking news desks to SEO-led digital storytelling, she specialises in creating engaging content that keeps readers informed without overwhelming them.
The post ITR Filing 2026: Are You Eligible to File ITR-5? Income Tax Department Releases Excel Utility for AY 2026-27 appeared first on NewsX.
Comments are closed.