1 week ago

Income Tax Department Reminds Businesses of August 31 ITR Deadline

‘Be the tax hero who files on time’: I-T department reminds taxpayers of August 31 ITR deadline · livemint.com

The Income Tax Department is reminding some taxpayers to file their returns by August 31, 2026.

This deadline is for people and organizations earning money from a business or profession when their accounts do not need an audit.

Different taxpayers must use different income tax forms.

More than 2 crore returns using ITR-3 and ITR-4 had been filed by August 20.

Overall, more than 6.5 crore returns had been filed for the assessment year.

The simpler ITR-1 and ITR-2 forms had already reached more than 5.9 crore filings by July 31.

People who needed those forms had a July 31 deadline without penalty and interest.

Filing the correct form on time helps taxpayers avoid problems.

Key facts

Deadline: August 31, 2026
Assessment year: 2026-27
Eligible taxpayers: Those with business or professional income whose accounts do not require an audit
Forms listed: ITR-3, ITR-4, ITR-5 and ITR-7
Filings by August 20: More than 2 crore ITR-3 and ITR-4 returns; over 6.5 crore total AY 2026-27 returns
Earlier deadline: July 31, 2026, for ITR-1 and ITR-2 taxpayers not requiring an audit
ITR-1 eligibility: Resident individuals with annual income up to ₹50 lakh, salary income, one house property and agricultural income up to ₹5,000

livemint.com · 1 week ago