India's Income Tax Department Launches Excel Utility for ITR‑5 Returns FY 2025‑26

The Income Tax Department of India has released an Excel utility for filing ITR‑5 returns for Assessment Year 2026‑27 (financial year 2025‑26). The tool can be downloaded from the e‑filing portal, allowing eligible entities – partnership firms, limited liability partnerships, associations of persons, bodies of individuals, artificial juridical persons, business trusts, investment funds, co‑operative societies and local authorities – to prepare their returns offline, validate them and upload the JSON file for final submission.

Filing deadlines are set as follows: 31 July 2026 for non‑audit entities, 31 August 2026 for non‑audit business cases, 31 October 2026 for audit‑required cases, and 30 November 2026 for entities with transfer‑pricing reports. Entities that must use other forms, such as individuals, Hindu Undivided Families, companies filing ITR‑6, and those required to file ITR‑7, are excluded. Missing the applicable deadline will permanently block the carry‑forward of business and capital losses.