5 days ago
ITR Deadline Nears: Who Must File By 31 August
People who earn money from a business, profession, or freelance work may need to file a special income-tax return.
If their income does not need a tax audit, the deadline is 31 August 2026.
They usually use ITR-3 or ITR-4, depending on how they report their business income.
ITR-3 is generally used when they do not choose the presumptive taxation system.
ITR-4 can be used by eligible taxpayers whose total income is up to ₹50 lakh and who choose presumptive taxation.
Some people cannot use ITR-4, such as those with certain foreign assets, unlisted shares, or losses carried forward.
Taxpayers can file online through the official Income-Tax Department portal.
Before filing, they should compare their information with tax statements, bank records, and tax-payment receipts.
Taxpayers with non-audit business or professional income must file by 31 August 2026.
ITR-3 is generally for taxpayers with business or professional income who do not choose presumptive taxation.
ITR-4 is for eligible individuals, Hindu Undivided Families and firms using presumptive taxation with income up to ₹50 lakh.
Business or professional income requiring a tax audit has a later filing deadline of 31 October 2026.
Filers should check Form 26AS, AIS, TIS, Forms 16 and 16A, bank records, and tax challans before submitting returns.
- Who
- Individuals, Hindu Undivided Families, firms, freelancers, and others with business or professional income.
- What
- They must select and file the appropriate income-tax return, usually ITR-3 or ITR-4.
- Where
- Returns can be filed through the official Income-Tax Department e-filing portal or with an authorized tax professional.
- When
- The deadline for non-audit business or professional income is 31 August 2026; audit cases are due by 31 October 2026.
- Why
- The correct form depends on the taxpayer's income, business records, use of presumptive taxation, and eligibility conditions.
Key facts
- Non-audit deadline
- 31 August 2026
- Tax-audit deadline
- 31 October 2026
- ITR-3
- Generally applies to individuals and HUFs with business or professional income who do not opt for presumptive taxation.
- ITR-4 income limit
- Eligible presumptive-taxation filers must generally have total income of up to ₹50 lakh.
- ITR-4 exclusions
- It cannot be used in several cases, including certain foreign assets or income, unlisted equity shares, carried-forward losses, deferred ESOP tax, and income chargeable at special rates.
- Required records
- Form 26AS, AIS, TIS, Forms 16 and 16A, bank passbooks, and advance or self-assessment tax challans.
- Earlier filings
- More than 6.5 crore returns, including over 2 crore ITR-3 and ITR-4 returns, had been completed by the 31 July deadline, according to the article.
Sources
Related news
Income Tax Department Urges Early Filing Before August 31
Income Tax Department Reminds Businesses of August 31 ITR Deadline
Taxpayers With Business Income Must Choose Correct ITR Forms
ITR-3 or ITR-4: Which Tax Form Should You File?
ITR guide for freelancers: correct form before August 31 deadline
EPFO Identifies PF Trusts Eligible for Amnesty Scheme 2026
EPFO Opens One-Time Amnesty for PF Trust Exemption Irregularities
Filing ITR: A Responsibility and Pride
Audit and Non-Audit Taxpayers Face Different ITR Deadlines
Who Must File Income-Tax Returns by 31 October?
