New Delhi, July 11: The Income Tax Department announced on Saturday that over 17 million tax returns (ITRs) have been filed for the assessment year 2026-27.
In a post on the social media platform X, the department stated, “More than 17 million taxpayers have shown prudence by filing their ITRs for the assessment year 2026-27 ahead of time.”
According to the department, more than 1 million tax returns were filed alone on Friday.
The Income Tax Department has urged all eligible taxpayers who have not yet filed their ITRs to do so before the deadline of July 31, to avoid last-minute rush and technical issues.
Notably, in May, the Income Tax Department made the ITR-1 and ITR-4 forms available on the e-filing portal for the financial year 2025-26 (assessment year 2026-27). Taxpayers can use both Excel utility and online filing options for these forms.
ITR-1 (Sahaj) is for resident individual taxpayers with an annual income of up to ₹50 lakh, derived from salary, one house property, and other sources. It can also include agricultural income of up to ₹5,000 per year.
On the other hand, ITR-2 applies to individual taxpayers and Hindu Undivided Families (HUF) whose income does not come from business or profession but from other sources like capital gains.
Previously, the Central Board of Direct Taxes (CBDT) notified new ITR forms with revised disclosure rules for the assessment year 2026-27.
Under the new rules, it is mandatory to provide additional information related to long-term capital gains, losses from share buybacks, and certain types of trading transactions.
Meanwhile, according to the Income Tax Department’s data, from April 1 to June 17, net direct tax collection during the financial year 2027 increased by 14.64% year-on-year, reaching ₹5.21 lakh crore. Gross direct tax collection also rose by 12.46%, amounting to ₹6.1 lakh crore, compared to ₹5.4 lakh crore during the same period last year.
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