The Income Tax Department has enabled ITR-2 filing utility for Assessment Year 2026-27, allowing eligible taxpayers to prepare returns offline before uploading them online.

The Income Tax Department has started the online filing process for Income Tax Return (ITR)-2 for Assessment Year 2026-27, giving taxpayers with income beyond salary a fresh window to begin preparing their tax filings for Financial Year 2025-26.

The department recently made the Excel utility for ITR-2 live on the official portal. Taxpayers can now download the form, fill in their financial details offline, and later upload the generated JSON file on the income tax e-filing website. Earlier this month, the department had activated ITR-1 and ITR-4 filing utilities.

Utility Goes Live

ITR-2 is generally meant for individuals and Hindu Undivided Families (HUFs) who do not have income from business or profession but earn through multiple sources. This includes capital gains from shares or property, income from more than one house property, foreign assets, or income exceeding the eligibility limit for simpler forms like ITR-1.

Officials said the Excel utility allows taxpayers to prepare returns even without continuous internet access. Once the form is completed, the system creates a JSON file which must be uploaded on the portal for final submission and verification.

For first-time users, registration on the e-filing portal remains mandatory through PAN and Aadhaar authentication.

Deadline Remains July 31

The due date for filing income tax returns for most salaried taxpayers remains July 31, 2026. However, some taxpayers under business categories filing ITR-3 or ITR-4 may get time until August 31 depending on audit applicability and other criteria.

Taxpayers missing the July deadline can still submit a belated return until December 31 by paying the applicable late fee and interest, as per provisions under the Income Tax Act.

Tax professionals say early preparation helps avoid last-minute technical glitches, though filing too soon may also create issues if financial records are incomplete.

Experts Advise Waiting

Several tax consultants are advising salaried employees not to rush into filing returns before mid-June. According to experts familiar with the filing cycle, companies have until May 31 to submit Tax Deducted at Source (TDS) details to the department.

After that, it typically takes another 10 to 15 days for the information to fully reflect in Form 26AS and the Annual Information Statement (AIS).

“If taxpayers file before all entries are updated, there could be mismatches in salary, interest income or investment details,” a Delhi-based chartered accountant said, adding that such discrepancies often delay refunds or trigger notices for clarification.

Documents To Verify

Before beginning the filing process, taxpayers are being advised to verify key documents carefully.

Form 16 issued by employers remains one of the primary records for salaried individuals. In addition, taxpayers should cross-check AIS and TIS entries available on the portal to ensure that bank interest, stock market transactions and other financial data have been correctly reported.

Experts also recommend confirming that the mobile number linked with Aadhaar and PAN is active, as e-verification through OTP continues to be mandatory for most online filings.

Offline Filing Option

The offline utility continues to remain popular among many taxpayers, particularly those who prefer reviewing calculations manually before submission. The Excel-based format also allows users to save drafts and correct entries before generating the final upload file.

The Income Tax Department has been gradually rolling out utilities form-wise every year to manage portal traffic and ease compliance.

Focus On Accuracy

Tax experts say the biggest concern during filing season remains incorrect disclosures or missed income entries, especially from fixed deposits, mutual funds and equity trading.

With the ITR-2 utility now available, taxpayers with capital gains and multiple income sources are expected to begin compiling financial records over the coming weeks. Filing activity is likely to pick up significantly after updated AIS data becomes visible on the portal in June.

For many salaried taxpayers with investments outside regular salary income, ITR-2 filing for AY 2026-27 could require closer scrutiny this year as reporting standards continue to tighten.