The Income Tax Department has enabled online filing of ITR-5 for Assessment Year 2026-27 on the e-filing portal, as reported by Income Tax Department. The department announced the availability of the Excel Utility for ITR-5 for Assessment Year 2026–27 on social media platform X, allowing eligible taxpayers to file their returns digitally. This development follows the department's earlier activation of online filing for ITR-1, ITR-2, ITR-3 and ITR-4 in phases throughout May and June 2026. According to Income Tax Department, eligible taxpayers can download the utility from the 'Downloads' section of the portal to begin their filing process. As reported by Mint, the department has now released Excel utilities for ITR-1, ITR-2, ITR-3, ITR-4 and ITR-5, with the IT department announcing that over 1 crore ITRs have already been filed for AY 2026-27.
According to the Income Tax Department, ITR-5 can be used by firms, Limited Liability Partnerships (LLPs), Association of Persons (AOP), Body of Individuals (BOI), Artificial Juridical Person (AJP), local authorities, representative assessees, cooperative societies, societies registered under Societies Registration Act 1860, trusts other than those eligible for Form ITR-7, estates of deceased persons, estates of insolvent persons, business trusts under section 139(4E), and investment funds under section 139(4F). However, taxpayers required to file returns under sections 139(4A), 139(4B), 139(4C), 139(4D), 139(4E) or 139(4F) are not eligible to use this form, making it generally not relevant for individual taxpayers. As reported by Navraj Global Advisors, ITR-5 is not applicable to individuals, Hindu Undivided Families (HUFs) and companies, and is also not meant for taxpayers who are required to file returns in ITR-7 under the relevant provisions of the Income-tax Act.
As reported by Income Tax Department, the department had previously activated e-filing facilities for ITR-1 and ITR-4 on May 15, followed by online filing for ITR-2 on May 27. The department enabled both online filing facility and Excel utility for ITR-3 on June 19, with ITR-5 now available completing the comprehensive digital filing infrastructure for Assessment Year 2026-27. This phased approach ensures systematic coverage of all major taxpayer categories across different income tax return forms. However, tax experts note that the utility has come later than expected, leaving eligible taxpayers with less time to complete their filings before the due dates. According to SBHS & Associates, the release has come much later than expected, with the effective filing period getting substantially reduced as return filing cannot begin unless the utility is available.
According to Navraj Global Advisors, the filing deadlines for ITR-5 depend on whether the entity is required to undergo a tax audit. Entities that are not subject to a tax audit must file their returns by August 31. Those requiring a tax audit have until October 31, while entities that are required to furnish a transfer pricing report can file their returns up to November 30. As reported by Mint, the deadline for taxpayers who will use ITR-5 is August 31, whereas salaried taxpayers must file their return for FY 2025-26 before July 31 (ITR-1 and ITR-2). Tax experts advise eligible taxpayers not to wait until the last moment and to begin the filing process as early as possible, given the later-than-usual release of the utility. As noted by Dinesh Aarjav & Associates, businesses should not wait until the due date, as early preparation also provides adequate time to resolve portal-related or reporting issues, if any.
According to tax experts, the current period presents an ideal opportunity for taxpayers to file their returns. As reported by Mint, "It is the best time to file ITR as 26AS, AIS and TIS are all updated. This is the time which is neither early, nor too late," says Pratibha Goyal, partner at PD Gupta & Company. Chirag Chauhan, founder of CA Chauhan & Company, notes that "filing a tax return on time ensures you receive your tax refund early. In one case, we filed the tax return at noon, and the taxpayer got his refund at 3 pm on the same day." He adds that almost all organizations have updated their AIS and TIS in the last quarter, thereby incentivizing taxpayers to file their tax returns now. The Excel utility allows taxpayers to prepare and verify their tax returns offline, enabling them to organize large amounts of data and compute taxes without requiring an uninterrupted internet connection, making this an opportune time for eligible taxpayers to complete their filings.
