Now Reading: 6.5 crore income tax returns filed for AY 2026-27 so far
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6.5 crore income tax returns filed for AY 2026-27 so far
Over 6.5 crore income tax returns (ITRs) have been filed for the assessment year 2026-27 as of August 20, according to the Income Tax Department. The figure includes more than 2 crore…
Over 6.5 crore income tax returns (ITRs) have been filed for the assessment year 2026-27 as of August 20, according to the Income Tax Department. The figure includes more than 2 crore ITR-3 and ITR-4 forms, which are used by businesses and professionals.
Taxpayers who are not required to get their accounts audited have until August 31 to file their returns. Those whose accounts need audit have a later deadline of October 31. The department has urged all eligible taxpayers to file early to avoid last-minute glitches.
Indian Opinion Analysis
The number of returns filed so far this year is on track to surpass last year's total of about 8.5 crore non-audit returns. The August 31 deadline applies to salaried employees, small businesses, and freelancers. Late filing attracts a penalty of up to Rs 5,000, and interest on tax due at 1% per month. With the deadline 11 days away, daily filing volumes will need to increase sharply to meet the expected rush. The next key date is October 31 for audit cases, which typically adds another 1-2 crore returns.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
