Income Tax Department Enables ITR-2 Online Filing and Excel Utility for AY 2026-27

The Income Tax Department has enabled the ITR-2 form on the e-filing portal for Assessment Year 2026-27. The department announced through its official ‘X’ platform on Wednesday that both online filing and the Excel utility for ITR-2 are now available. Earlier, on May 15, the Income Tax Department had activated ITR-1 and ITR-4 forms for small and middle-income taxpayers.

Taxpayers who have capital gains or losses from the sale of shares, mutual funds, houses, or land assets, as well as individuals earning income from foreign sources, must file returns using the ITR-2 form. Salaried employees and pensioners with annual income below ₹50 lakh should opt for ITR-1. As per the latest changes introduced this year, taxpayers owning up to two houses can also use ITR-1. Individuals having long-term capital gains (LTCG) of up to ₹1.25 lakh under Section 112A are also eligible to file through ITR-1. Business owners, professionals, and traders involved in intraday, futures, and options (F&O) transactions in the stock market must use ITR-3 or ITR-4 (Sugam). Experts advise salaried employees to wait until receiving Form-16 before filing returns. Taxpayers must complete the filing process before July 31.