Over 5.9 crore ITRs filed by July 31 deadline for AY 2026-27

More than 5.9 crore income tax returns (ITRs) were filed by taxpayers for assessment year (AY) 2026-27 before the July 31 deadline, which applied to individuals and Hindu Undivided Families (HUFs) whose accounts did not require mandatory audit.The Income Tax Department announced the milestone on August 1 through a social media update, stating that the number of returns filed had crossed the 5.9-crore mark by the end of the due date.The July 31 deadline covered taxpayers filing ITR-1 (Sahaj) and ITR-2 forms where account audits were not required. Thank you, taxpayers! Over 5.9 Crore ITRs filed for AY 2026–27 by July 31st! Your trust and timely compliance provide the energy that fuels India’s growth.@nsitharamanoffc @officeofPCM @FinMinIndia @PIB_India pic.twitter.com/aShMxcuqOW— Income Tax India (@IncomeTaxIndia) August 1, 2026 Returns submitted after the due date may attract interest and other consequences under the Income-tax Act unless any relief is announced by the authorities.The latest filing numbers come after an extended compliance period in the previous assessment year. For AY 2025-26, the government had extended the filing deadline, allowing taxpayers additional time. As a result, more than 7.3 crore returns were filed by September 16, 2025, which was the revised deadline.Tax experts had anticipated strong filing activity towards the end of the deadline period, as a significant number of taxpayers generally complete their returns during the final days. ITR Deadline Is Not July 31 For Everyone, Know - Who Gets Extra Time And Why?The Income Tax Department had also issued regular reminders urging taxpayers to avoid last-minute filing and complete return verification on time.ITR-1, also known as Sahaj, remains the most commonly used return form among individual taxpayers. It applies to resident individuals with annual income of up to Rs 50 lakh from sources including salary, one house property and other specified income categories. It also allows agricultural income of up to Rs 5,000 during the financial year.ITR-2 is designed for individuals and HUFs who do not have income from business or profession but earn income through sources such as capital gains or multiple properties. The form is generally used by taxpayers with more complex financial situations.The government has been working towards simplifying the tax filing process through features such as pre-filled information, improved integration of financial data and upgrades to the e-filing platform. Recent measures have also focused on reducing compliance difficulties and expanding digital verification facilities.The final number of ITR filings for AY 2026-27 is expected to increase further as taxpayers continue submitting belated or revised returns within the timelines allowed under the Income-tax Act.

More than 5.9 crore income tax returns (ITRs) were filed by taxpayers for the assessment year (AY) 2026-27 by July 31, marking the close of the due date for individuals and Hindu Undivided Families (HUFs) not requiring an audit of their accounts.The Income Tax Department shared the milestone on August 1 through a post on social media, stating that filings had crossed the 5.9-crore mark by the end of the deadline day.The July 31 due date applied to taxpayers filing ITR-1 (Sahaj) and ITR-2 whose accounts are not subject to mandatory audit. Returns filed after the deadline may attract interest and other applicable consequences under the provisions of the Income-tax Act unless relief is announced subsequently.Also read | India's gross GST collections rise 15.4% to Rs 2.11 lakh crore in JulyThe latest filing figure comes against the backdrop of last year's extended compliance window. For AY 2025-26, the Centre had pushed back the filing deadline, allowing taxpayers additional time to submit their returns. As a result, more than 7.3 crore returns were filed by September 16, 2025, the revised closing date for that assessment year.Tax professionals had expected filing activity to remain strong in the final days of the compliance window, with taxpayers typically accounting for a substantial share of annual filings during the last week before the deadline. The Income Tax Department had also been issuing regular advisories encouraging taxpayers to avoid last-minute submissions and complete verification of their returns promptly.ITR-1, popularly known as Sahaj, continues to be the most widely used return form among individual taxpayers. It is meant for resident individuals with annual income of up to Rs 50 lakh derived from salary, one house property and other specified sources, while also permitting agricultural income of up to Rs 5,000 during the financial year.Also read | RBI's FCNR, forex schemes draw $40.81 billion in inflows so farITR-2 is applicable to individuals and HUFs that do not earn income from business or profession but have income from sources such as capital gains or multiple properties. The form is commonly used by taxpayers with relatively more complex financial profiles than those covered under Sahaj.The government has been focusing on simplifying the return filing process in recent years through wider pre-filled data, greater integration with financial information systems and improvements to the e-filing portal. Recent reforms have also sought to reduce compliance burdens by streamlining return forms and expanding digital verification options, steps aimed at improving voluntary tax compliance.The final tally for AY 2026-27 is expected to rise further as eligible taxpayers continue to file belated or revised returns within the timelines prescribed under the Income-tax Act, although such filings may be subject to applicable interest or late-filing provisions.

New Delhi: More than 5.5 crore income tax returns (ITRs) have been filed for Assessment Year (AY) 2026-27 so far, the Income Tax Department said on Friday. Taxpayers rushed to complete the process on July 31, the final day for filing returns without a late fee.The deadline applies to individuals and other taxpayers whose accounts do not require an audit.Filing SurgeThe department said more than 42 lakh returns were filed on July 30 alone. The sharp increase showed that many taxpayers waited until the final days to submit their returns.In a post on social media platform X, the department reminded taxpayers that less than 24 hours remained and asked them to file their returns calmly.Rapid GrowthThe pace of filing has increased sharply in recent weeks. More than 1.7 crore returns had been filed by July 11. The figure crossed 3 crore on July 22 and reached 4 crore on July 27.The number exceeded 5 crore on Thursday before crossing the 5.5 crore mark on Friday. ITR Filing Deadline Nears, Income Tax Department Asks Taxpayers To Reconcile Records And Avoid Last-Minute RushCheck DetailsThe Income Tax Department has repeatedly advised taxpayers not to wait until the last moment. Heavy traffic on the e-filing portal may cause delays or technical problems near the deadline.Before submitting a return, taxpayers should carefully compare the information in Form 16, the Annual Information Statement, Form 26AS, bank statements and other income records.Any difference in income, interest, tax deducted at source or investment details may lead to questions or delays in processing the return.ITR Deadline Looms, Know- Are You Required To File By July 31?Revised FormsThe Central Board of Direct Taxes has notified revised ITR forms for AY 2026-27. These forms include updated disclosure requirements related to long-term capital gains, share buyback losses and some trading transactions.During FY 2024-25, more than 9 crore taxpayers filed income tax returns. The department also issued refunds worth over Rs 4.35 lakh crore during the year.Taxpayers missing the deadline may still file a belated return, but could face a late fee and lose certain tax benefits.

Mumbai: Many taxpayers believe they do not need to file an income tax return (ITR) when their annual income is below the basic exemption limit. However, tax rules specify certain situations where filing an ITR becomes compulsory even when no tax is payable.For FY 2025-26, the basic exemption limit is Rs 2.5 lakh under the old tax regime and Rs 4 lakh under the new regime.High ExpensesYou must file an ITR if your total electricity bill payments for a home or office reach Rs 1 lakh or more during a financial year.Return filing is also compulsory if you spend Rs 2 lakh or more on foreign travel for yourself or any family member.Large DepositsAn ITR must be filed if total deposits in one or more savings bank accounts reach Rs 50 lakh or more during the year.Similarly, depositing Rs 1 crore or more in one or multiple current accounts makes return filing mandatory.TDS ThresholdYou must file an ITR if your total tax deducted or collected at source—TDS or TCS—is Rs 25,000 or more during the financial year. For senior citizens, the applicable limit is Rs 50,000.ITR Filing 2026: AIS & Form 26AS Match, Yet These 5 Errors May Still Trigger A Tax NoticeIncome LimitReturn filing is compulsory when your total income exceeds the basic exemption limit applicable under your chosen tax regime.Carrying LossesIf you suffer losses from shares, cryptocurrency, property transactions or business and want to carry them forward for adjustment against future profits, you must file the return within the prescribed deadline.Foreign AssetsA resident Indian generally needs to file an ITR if they hold foreign assets, shares or bank accounts, even if no tax is payable in India.ITR Deadline Looms, Know- Are You Required To File By July 31?Professional ReceiptsFreelancers, doctors, lawyers, IT professionals and consultants must file an ITR when their annual gross professional receipts exceed Rs 10 lakh.Business TurnoverBusiness owners must file a return if their annual sales, turnover or gross receipts exceed Rs 60 lakh. This requirement applies even when the business reports little profit or suffers a loss.Taxpayers should therefore check their banking transactions, spending, overseas assets and business receipts before deciding that an ITR is unnecessary.

Mumbai: Many taxpayers believe July 31 is the final date for filing an income-tax return. However, the deadline is not the same for everyone.The applicable date depends on the taxpayer’s sources of income, the ITR form required and whether the accounts must be audited.Under the rules applicable to Assessment Year 2026–27, taxpayers filing ITR-1 or ITR-2 generally have until July 31, 2026. Eligible taxpayers filing ITR-3 or ITR-4 without a tax-audit requirement have until August 31, 2026.July DeadlineThe July 31 deadline generally applies to individuals whose income comes from salary, pension, house property, capital gains, interest or other investments.It can also cover taxpayers reporting income from virtual digital assets held as investments or income from foreign sources, provided they do not have business or professional income requiring another return form.The correct form must be selected according to the person’s income profile and eligibility conditions.Extra MonthThe August 31 deadline applies to eligible individuals earning business or professional income whose accounts do not require a tax audit.This category may include freelancers, consultants, futures and options traders, intraday traders and taxpayers using presumptive taxation provisions under Sections 44AD, 44ADA or 44AE.The Income Tax Department’s guidance specifically states that the due date for filing ITR-4 for AY 2026–27 is August 31, 2026. Income Tax DepartmentITR Filing 2026: AIS & Form 26AS Match, Yet These 5 Errors May Still Trigger A Tax NoticeSalary ConfusionReceiving a salary does not automatically make July 31 the final deadline.If a salaried person also earns business or professional income and must file ITR-3, a later deadline may apply. The position could change further if that person’s accounts require a tax audit.A salaried individual who is a partner in a firm subject to tax audit may also qualify for the deadline applicable to audit-linked cases.Form 16 Says Zero Tax, But Missing ITR Filing Could Cost You LaterCheck CarefullyTaxpayers should review every source of income, identify the correct ITR form and check whether audit rules apply before filing.Choosing the wrong deadline could result in late fees, interest or other difficulties. Therefore, taxpayers should confirm their individual filing date instead of assuming that July 31 applies universally.

Mumbai: The deadline to file an Income Tax Return (ITR) for the financial year 2025-26, or assessment year 2026-27, is July 31 for taxpayers who do not earn income from a business or profession.Those who fail to file their return on time may have to pay a late fee of up to Rs 5,000.Belated ReturnIf taxpayers miss the July 31 deadline for any reason, they can file a belated return until December 31. However, filing late can result in the loss of certain important tax benefits.Taxpayers may not be allowed to carry forward business losses to future years. They may also lose the option to switch between the old and new tax regimes.Revised ReturnEven if complete details of all financial transactions are not available, taxpayers should try to file their ITR before the original deadline.Once the missing information becomes available, they can file a revised return by December 31 and correct any mistakes or add necessary details.ITR Filing Deadline Nears, Income Tax Department Asks Taxpayers To Reconcile Records And Avoid Last-Minute RushBusiness IncomeTaxpayers earning income from a business or profession have until August 31 to file their returns. Investors involved in futures and options, or F&O, and intraday trading also fall under this category.They can therefore submit their ITR by August 31, according to the applicable filing schedule.Income LimitsUnder the old tax regime, individuals with annual income above Rs 2.5 lakh must file an ITR. Under the new tax regime, the basic income limit is Rs 4 lakh.However, filing may still be necessary even when income is below these limits.ITR Filing 2026: Filing Your ITR? Report FD Interest Correctly, Avoid Tax Notices & PenaltiesFor example, taxpayers should consider filing a return if tax has been deducted at source, commonly called TDS, from their income. Filing allows them to claim any eligible tax refund.A return should also be filed if a person has paid an electricity bill exceeding Rs 1 lakh during a financial year. Timely filing helps taxpayers claim refunds, maintain proper income records and avoid late fees or the loss of important benefits.