Income tax return filing gathers pace: Deadline extension unlikely as filings cross 14 mn for AY27

Income tax return filing is in full swing, with over 14 million returns filed to date for Assessment Year (AY) 2026-27.

According to the latest official data, as many as 14.3 million income tax returns have been filed for AY27, of which taxpayers have verified 13.7 million. There is a total of 139.3 crore individual registered users on the income tax e-filing website.

In FY26, a total of 91.9 million income tax returns were filed, with the maximum number of returns of 35.1 million being of ITR 1, which is for resident individual taxpayers with total income up to Rs 50 lakh from salary or pension.

The due date for filing ITRs for most individual taxpayers, consisting of non-audit cases of salaried and HUF, is July 31. The deadline for non-audit returns of businesses and professionals under ITR 3 and 4 is August 31.

Till June 30 this year, there was surprisingly a near 19% drop in ITR 1 filing for AY27, but a sharp rise in filing of ITRs 2, 3 and 4.

However, with only a few weeks left for the due date, income tax return filing is seen to gather pace now, and more taxpayers will be filing their returns. As of now, government sources have indicated that there will be no extension of the due date, as the filing portal has been functioning well.

Those who miss filing their ITR now have the option to file a belated return by December 31, 2026, but this may attract late fees and interest. For AY27, revised income tax returns to correct any mistakes can be filed by March 31, 2027.

Most taxpayers have now migrated to the new income tax regime under which income up to Rs 12 lakh is exempt from tax with no exemptions. However, tax experts say that this does not mean they do not have to file a tax return. ITR filing is mandatory for income above Rs 4 lakh in the new regime and above Rs 2.5 lakh in the old regime or in cases of certain high-value transactions.