ITR filing FY 2024-25: Do you have to file your tax reyurn using ITR-2 or ITR-3? It’s the month of July and every year this time, taxpayers are usually scrambling to get together documents to file their income tax return or ITR. However, those who file ITR-2 or ITR-3 have not yet been able to start the process of ITR filing since the utilities have not yet been released online (incometax.gov.in) or offline by the tax department.
However, taxpayers have little reason to worry since this year the Income Tax Department has extended the deadline to file ITR from July 31 to September 15, 2025. Experts expect the ITR-2 and ITR-3 forms to be released soon.
ITR: Why Are ITR-2 & ITR-3 Not Available For Filing?
Experts are of the view that the extensive changes in the Income Tax Return forms and the complexity of ITR-2 and ITR-3 has possibly caused the delay in release from the Income Tax Department’s end.
Sonu Iyer, Partner and National Leader People Advisory Services - Tax, EY India explains, “The ITR-2 / ITR-3 return forms are applicable for individuals with complex financial profiles such as income from multiple house properties, capital gains, foreign assets and foreign income, business or professional income (in the case of ITR-3), directorships, unlisted equity shares, total income exceeding INR 5 million, brought forward and carry forward of losses, etc.”
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Income Tax Return e-filing: Can you keep switching between new and old tax regime every year? What taxpayers should know“These forms are significantly more detailed than the simpler ITR-1/ ITR-4 forms. The delay in releasing the e-filing utility (online and offline) for ITR-2 / ITR-3 can be attributed to the substantive changes introduced in the return forms such as separate reporting of capital gains earned before and after 23 July 2024, detailed reporting of deductions / exemptions, reporting of TDS section codes, etc,” Sonu Iyer tells TOI.
According to the EY tax expert, such changes require comprehensive technical modifications to align the utility with the enhanced reporting requirements and provisions of the Finance Act, 2024.
The Income Tax Department has extended the deadline for filing returns to 15 September 2025 recognizing the time required to update the utilities and the time required for system readiness,” she adds.
Who Has To File ITR-2/ITR-3 for FY 2024-25?
ITR-2 is for individual and HUF Taxpayers. This form is suitable for individuals and Hindu Undivided Families who receive:* Salary/pension earnings
* Revenue from multiple residential properties
* Any amount of capital gains
* Overseas income or assets
* Agricultural proceeds exceeding Rs.5,000
* Those with RNOR/NRI status
* Company directors or holders of unlisted equity
* Cases involving combined spousal income
Exclusion criteria: Persons earning from business or professional activities
Latest update: Excel-based utility now accommodates revised return submissions under Section 139(8A).
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ITR e-filing AY 2025-25: What is Annual Information Statement (AIS) and how is it different from Form 26AS? Top points for taxpayersITR 3 is applicable for self-employed individuals, independent contractors and firm partnersMandatory filing requirements - For individuals or HUF having:
* Revenue from proprietorship ventures or professional activities.
* Partnership income (excluding Limited Liability Partnerships).
* Any amount of capital gains income or related loss carry-forward.
* Ownership of non-listed equity shares.
* Profits or losses from derivatives trading.
* Additional earnings from employment, property rental or miscellaneous sources alongside business revenue.
This form is suitable when your income composition makes you ineligible for ITR 1, ITR 2, or ITR 4. Submission of Form 10-IEA acknowledgement is necessary when choosing to opt out of the new taxation structure.
ITR Deadline Extension: What I-T Department Has Said
On May 27, 2025, the Central Board of Direct Taxes (CBDT) announced the extension of the due date to file ITR. “In view of the extensive changes introduced in the notified Income Tax Returns (ITRs) and considering the time required for system readiness and rollout of ITR utilities for Assessment Year (AY) 2025-26, CBDT has decided to extend the due date for filing returns.”
The reasons CBDT gave were:
- ITRs for Assessment Year 2025-26 feature significant modifications in structure and content, designed to streamline the compliance process, improve transparency and ensure precise reporting.
- Due to these alterations, additional duration is required for developing systems, integrating components and evaluating the associated utilities.
- Additionally, credits originating from Tax Deducted at Source (TDS) statements, which must be submitted by May 31, 2025, are anticipated to appear in early June, thus restricting the available timeframe for return submission without such an extension.
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Income Tax Return: Are capital gains from MFs taxed differently under new & old regime? What taxpayers should know about new LTCG, STCG rules
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