Daijiworld Media Network - New Delhi

New Delhi, Jul 27: The Income Tax Department on Monday announced that more than 4 crore Income Tax Returns (ITRs) have been filed for the Assessment Year (AY) 2026-27, urging remaining eligible taxpayers to complete the process well before the July 31 deadline.

Sharing the update on social media platform X, the department said the milestone reflects a sharp rise in return filings and advised taxpayers eligible to file ITR-1 and ITR-2 not to wait until the final days to submit their returns.

The latest figure comes within days of the department reporting that ITR filings had crossed the 3 crore mark, with over 15 lakh returns filed in a single day. Earlier this month, it had also announced that filings had exceeded 1.7 crore, indicating a steady increase in compliance as the due date draws closer.

The department once again appealed to taxpayers to avoid last-minute submissions, stating that early filing helps reduce congestion on the e-filing portal and enables quicker processing of returns and refunds.

ITR-1 (Sahaj) is designed for resident individuals with an annual income of up to Rs 50 lakh, derived from salary, one house property and other sources, including agricultural income up to Rs 5,000.

ITR-2, meanwhile, is meant for individuals and Hindu Undivided Families (HUFs) that do not earn income from business or professional activities but have income from sources such as capital gains and other specified categories.

The filing process for AY 2026-27 also incorporates revised return forms notified earlier this year by the Central Board of Direct Taxes (CBDT). The updated forms require additional disclosures, including details relating to long-term capital gains, losses arising from share buybacks and certain share trading transactions.

With the July 31 filing deadline approaching, the Income Tax Department has reiterated its advice for taxpayers to submit their returns at the earliest to ensure a smooth and hassle-free filing experience.