ITR filings cross 78 million for AY27, setting new record

More than 78 million income-tax returns (ITRs) were filed for assessment year 2026-27 as of August 31, setting a new record, according to the income tax department. The department celebrated the milestone on social media, thanking taxpayers and professionals for timely compliance. The 31 August deadline was significant as it marked the statutory due date for business or professional taxpayers whose accounts were not required to be audited. Earlier deadlines were applied to other taxpayers.

The figure of 78 million filings marked the highest number of ITRs submitted in a single assessment year. Official data showed a steady growth in filings over the past few assessment years, with a notable jump between AY23 and AY24 of 16%. This surge in filings has been attributed to increased compliance and outreach efforts by the department. For AY25, 72% of returns were filed under the new tax regime, while 20.1 million were under the old regime.

Taxpayers have until December 31, 2026, to file a belated return for AY27, with a late-filing fee of ₹1,000 for incomes up to ₹5 lakh and ₹5,000 for higher incomes. All seven ITR forms are available on the e-filing portal, with ITR-1 to ITR-5 and ITR-7 accessible through both online and offline utilities.