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The Income Tax Department has reminded taxpayers earning business or professional income and not covered by tax audit requirements to file their income tax returns for assessment year 2026-27 by August 31. More than 2 crore ITR-3 and ITR-4 forms had been filed on the e-filing portal by August 20, taking the total number of returns filed for AY 2026-27 to more than 6.5 crore. Over 5.9 crore ITR-1 and ITR-2 forms were filed by the earlier July 31 deadline. Taxpayers in the non-audit category can use the applicable ITR form based on their income and entity type.
The Income Tax Department has reminded taxpayers with business or professional income who are not required to undergo a tax audit to file their income tax returns for assessment year 2026-27 by August 31.
More than 2 crore ITR-3 and ITR-4 returns had been filed through the income tax e-filing portal by August 20, taking the total number of ITRs filed for AY 2026-27 to over 6.5 crore. This includes more than 5.9 crore ITR-1 and ITR-2 returns that were filed by the July 31 deadline.
The department has said taxpayers falling under the non-audit category can file the applicable return using ITR-3, ITR-4, ITR-5 or ITR-7, depending on their income and type of taxpayer.
ITR-3 is applicable to individuals and Hindu Undivided Families (HUFs) earning income from a proprietary business or profession. ITR-4 is a simpler return form intended for small and medium taxpayers who meet the conditions for using it.
ITR-5 is used by firms, Limited Liability Partnerships and cooperative societies, while ITR-6 applies to companies registered under the Companies Act. ITR-7 is used by trusts, charitable institutions and other entities covered under the relevant provisions.
With the August 31 deadline approaching, taxpayers with business or professional income who fall outside the audit requirement will need to complete their filings within the applicable deadline to avoid delays and other consequences associated with late filing.
Source PTI
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