The Income Tax Department said more than 5 crore ITRs had already been filed as of July 29 and urged taxpayers not to wait until the final hours to submit their returns.
Over 5 Crore ITRs have already been filed for A.Y. 2026–27.
Don’t wait for the last-minute rush. Reconcile and file your ITR-1 or ITR-2 for AY 2026-27 today!
File Smart. File Now.
???? https://t.co/GYvO3mStKf@nsitharamanoffc @officeofPCM @FinMinIndia @PIB_India pic.twitter.com/toUf9U05L2— Income Tax India (@IncomeTaxIndia) July 29, 2026
The July 31 deadline primarily applies to salaried individuals and other taxpayers whose accounts are not required to be audited. Taxpayers filing ITR-3 and ITR-4 have time until August 31, 2026, following the extension announced by the Central Board of Direct Taxes (CBDT).
Tax returns becoming more complex
Data released by tax filing platform ClearTax suggests that Indian taxpayers are reporting multiple sources of income beyond salaries.
According to the platform, only 42% of taxpayers filing returns this year reported salary as their sole source of income, down from 82% in AY 2022-23. At the same time, 39% of taxpayers have reported capital gains so far this year, compared with just 9% four years ago.
Business income has also become more common, accounting for 26% of returns filed so far, up from 4% in AY 2022-23, the data showed.
The trend is visible across age groups. Nearly 76% of taxpayers below the age of 25 are now filing returns with multiple income sources, including investments, trading and freelance income, while 53% of senior citizens are filing more complex returns, according to the data.
Points to check before filing
Tax experts advise taxpayers to carefully verify their details before submitting returns.
CA Deepak Ukidave, Adjunct Faculty at K J Somaiya Institute of Management, a private business school in Mumbai, said taxpayers should select the correct ITR form and assessment year, verify personal details such as PAN, Aadhaar and bank account information, and reconcile income reported in the Annual Information Statement (AIS), Tax Information Statement (TIS) and Form 26AS with their financial records.
He also advised taxpayers to disclose all sources of income to avoid notices and penalties.
Taxpayers who miss July 31’s deadline may be liable to pay a late filing fee under Section 234F of the Income-tax Act, along with applicable interest on outstanding tax dues. Late filing can also delay the processing of refunds and, in certain cases, restrict the carry forward of eligible losses.
