Over 5.5 Crore ITRs Filed For AY 2026-27, Taxpayers Rush To Meet July 31 Deadline
· Free Press Journal
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.
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Filing Surge
The 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 Growth
The 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 Details
The 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 Forms
The 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.