Sri Vijaya Puram/New Delhi, July 29: With the July 31 deadline for filing Income Tax Returns (ITRs) for Assessment Year (AY) 2026-27 fast approaching, the Income Tax Department has urged taxpayers to complete the filing process without delay, warning against the risks of last-minute rush and technical issues.
In a reminder issued on Tuesday through its official social media platform X, the department advised eligible taxpayers to file ITR-1 and ITR-2 well before the deadline, cautioning that procrastination often results in unnecessary stress and portal congestion.
“‘I’ll Do It Tomorrow’ often turns into deadline-day panic. Don’t wait for July 31, 2026, to file your ITR-1 & ITR-2 for AY 2026-27. Reconcile your documents and file your returns today,” the department said in its advisory.
The Income Tax Department also asked taxpayers to thoroughly reconcile their financial records before submitting returns. It advised taxpayers to verify information available in Form 16, Annual Information Statement (AIS), Form 26AS, bank statements and other income records to ensure that the details reported in the return are accurate and complete.
The reminder comes after the department recently announced that more than four crore income tax returns had already been filed for AY 2026-27, while encouraging the remaining taxpayers to avoid waiting until the last date.
The department’s data also highlighted a significant increase in tax compliance during the previous financial year. As of March 31, 2025, more than nine crore taxpayers had filed income tax returns during FY 2024-25. Out of these, 8.64 crore returns were successfully e-verified, while income tax refunds worth ₹4,35,008 crore were issued during the same period.
Earlier, the Central Board of Direct Taxes (CBDT) had notified revised ITR forms for AY 2026-27. The updated forms include enhanced disclosure requirements relating to long-term capital gains, losses arising from share buybacks and certain categories of trading transactions, aimed at improving transparency and compliance.
With only two days remaining before the filing deadline, taxpayers have been advised to complete the process at the earliest to avoid last-minute technical glitches and ensure timely submission of their returns.
