Archive · 28 Aug 2026
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.
- When
- The deadline for non-audit business or professional income is 31 August 2026; audit cases are due by 31 October 2026.
- Where
- Returns can be filed through the official Income-Tax Department e-filing portal or with an authorized tax professional.
- Why
- The correct form depends on the taxpayer's income, business records, use of presumptive taxation, and eligibility conditions.
- 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.