More than 4 crore Income Tax Returns have been filed so far, the Income Tax Department said, urging taxpayers not to wait until the July 31 deadline.
In a post on X, the Income Tax Department said, "4 Crore+ ITRs for AY 2026-27 filed and counting! Avoid the 31 July, 2026 deadline stress and file your ITR 1 & 2 early. File your ITR 1 & 2 for AY 2026-27 now, before the last-minute rush." According to the department, more than 20 lakh returns have been filed on average over the past five days.
4 Crore+ ITRs for AY 2026-27 filed and counting!
— Income Tax India (@IncomeTaxIndia) July 27, 2026
Avoid the 31 July, 2026 deadline stress and file your ITR 1 & 2 early.
File your ITR 1 & 2 for AY 2026-27 now, before the last-minute rush:
???? https://t.co/GYvO3mStKf#ITR #ITRFiling #FileNow@nsitharamanoffc @officeofPCM… pic.twitter.com/wupNz24dZt
With the deadline approaching, taxpayers who have not yet filed their returns should complete the process without delay. Missing the deadline can result in late filing fees, interest on outstanding tax, delays in receiving refunds and the loss of certain tax benefits.
ALSO READ : ITR Filing 2026: A Step-by-Step Guide For Anyone Who Has Never Done It Before
What happens if you miss the ITR filing deadline?
Taxpayers who miss the July 31 deadline can still file a belated return until December 31. However, doing so may attract a late filing fee under Section 234F - Rs 1,000 for those with a total income of up to Rs 5 lakh and Rs 5,000 for those earning above Rs 5 lakh. Where applicable, interest under Section 234A will also be charged at 1% per month or part of a month on the outstanding tax liability.
In addition, late filing may delay the processing of refunds, lead to additional compliance requirements and result in the loss of certain tax benefits available to taxpayers who file within the due date.
Taxpayers who incur capital losses, such as from the sale of shares, or business losses may not be allowed to carry these losses forward to offset future income if the return is filed after the due date. This could result in a higher tax liability in subsequent years.
In addition, taxpayers who wish to opt for the old tax regime must file their return by the due date. If the return is filed later, the option to choose the old tax regime is no longer available, and the return can only be filed under the default new tax regime.
ALSO READ : ITR 2026: Over 7.3 Crore Returns Filed In AY26 So Far, Higher Than Last Year
Why filing early is recommended
Filing before the deadline not only helps taxpayers avoid penalties and interest but also ensures quicker processing of refunds and reduces the chances of errors. It also provides sufficient time to resolve document mismatches or discrepancies, if any.
While the option to file a belated return remains available until December 31, taxpayers can avoid late fees, interest, refund delays and additional compliance requirements by filing within the due date.
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