New Delhi, August 31: The Income Tax Department announced on Monday that over 75 million income tax returns (ITRs) have been filed for the assessment year 2026-27. The department urged taxpayers to submit their returns before the deadline.
In a post on the social media platform ‘X’, the department stated that the last date for filing ITRs for income from non-audit businesses or professions is August 31, 2026. Eligible taxpayers are advised not to wait until the last moment.
The department highlighted, “More than 75 million ITRs have already been filed for the assessment year 2026-27.”
Furthermore, it emphasized, “The deadline for filing ITRs for income from business or profession (non-audit) is August 31, 2026. If you have not yet filed your ITR-3, 4, 5, or 7 (non-audit), do not wait until the last minute. File now.”
Additionally, ITR-3 is typically used by individual taxpayers and Hindu Undivided Families (HUF) whose income is derived from business or profession and who are not eligible to file simpler ITR forms.
Meanwhile, ITR-4, also known as Sugam, is designed for eligible resident individuals, HUFs, and firms, excluding LLPs. This form is for taxpayers opting for the presumptive taxation scheme.
ITR-5 applies to firms, LLPs, Associations of Persons (AOP), and certain other entities, while ITR-7 is filed by individuals and institutions required to submit returns under specific provisions of the Income Tax Act.
Failing to file returns by the designated deadline may result in late filing fees and interest payments. Additionally, taxpayers who file on time may lose eligibility for certain tax-related benefits.
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