Record 7.8 crore ITRs filed for AY26-27 as August 31 deadline ends
Over 7.8 crore Income Tax Returns were filed for AY 2026-27 by August 31. This marked the close of the revised statutory deadline for non-audit taxpayers. The Income Tax Department thanked taxpayers and professionals for their timely compliance. Non-audit business and professional taxpayers had an extended filing period. Belated returns can be filed until December 31, 2026.
A record-breaking 7.8 crore Income Tax Returns (ITRs) were filed by August 31, 2026, marking the completion of the revised statutory deadline for non-audit business and professional taxpayers, according to the Income Tax Department. The milestone was announced on X, with gratitude expressed to taxpayers and professionals for their timely compliance.
The new deadline was part of the amended Income-tax Act, 1961 under the Finance Act, 2026. Non-audit business and professional taxpayers had until August 31 to file their returns, while others had July 31. Companies and audited taxpayers had October 31, and November 30 for those under transfer-pricing provisions. The change granted non-audit business and professional taxpayers an extra month compared to the July-end deadline for most other non-audit individuals.
The tax audit under Section 44AB applies to businesses with total sales, turnover, or gross receipts exceeding Rs 1 crore, increasing to Rs 10 crore if cash receipts and payments do not exceed 5 per cent. Professionals face a threshold of Rs 50 lakh in gross receipts. AY 2026-27 covers income from April 1, 2025, to March 31, 2026, and remains governed by the Income-tax Act, 1961.
Late filers can still submit a belated return until December 31, 2026, or before assessment completion, incurring fees based on income. After filing, returns must be verified within 30 days via e-verification or submission of ITR-V to avoid penalties.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
