ITR Filings Cross 7.5 Crore As August 31 Deadline Nears

New Delhi: More than 7.5 crore income tax returns (ITRs) have been filed for assessment year 2026-27, the Income Tax Department said, as it reminded eligible non-audit taxpayers to meet the August 31 deadline.

Posting on X, the department urged individuals and entities earning business or professional income, but not requiring an audit, to avoid waiting until the final hours.

“Over 7.5 crore ITRs have already been filed for AY 2026-27,” it said. Taxpayers yet to submit ITR-3, ITR-4, ITR-5 or ITR-7 under the non-audit category were advised to file immediately.

Who must file by August 31?

The deadline applies to taxpayers with business or professional income whose accounts are not required to be audited under income tax rules.

ITR-3 is generally used by individuals and Hindu Undivided Families earning income from a business or profession and who cannot use the simpler return forms.

ITR-4, also called Sugam, is available to eligible resident individuals, HUFs and firms, excluding limited liability partnerships, that opt for presumptive taxation schemes.

ITR-5 applies to firms, LLPs, associations of persons and certain other entities. ITR-7 is used by people and institutions required to submit returns under specified provisions of the Income Tax Act.

What happens after the deadline?

Taxpayers missing the due date can still file a belated return for AY 2026-27 until December 31, 2026, or before completion of the assessment, whichever is earlier.

However, delayed filing can lead to a late fee and interest liability. It may also affect access to certain tax benefits available to taxpayers who file within the prescribed period.

A late return can also prevent taxpayers from carrying forward eligible losses, including certain business and capital losses, for adjustment against income in subsequent years.

The department’s reminder comes as taxpayers make a push to complete filing. Eligible taxpayers should verify the applicable return form, report income accurately and submit the return before the deadline to avoid costs and restrictions.