New Delhi, Aug 31: The Income Tax Department has reminded eligible taxpayers with business or professional income whose accounts are not subject to tax audit to complete their Income Tax Return (ITR) filing for Assessment Year 2026-27 by Monday, August 31.
The deadline is particularly relevant for eligible taxpayers filing ITR-3 and ITR-4, including individuals and businesses covered by the applicable non-audit provisions. Taxpayers are advised to check their income details, select the appropriate return form and complete the filing and verification process before the deadline.
The August 31 deadline does not apply to every taxpayer. Individuals who were required to file ITR-1 or ITR-2 generally had an earlier deadline, while taxpayers whose accounts require an audit have a later filing date.
For those who fail to meet the August 31 deadline, the return can still be filed as a belated return, subject to applicable provisions. However, delayed filing may result in a late-filing fee and interest on outstanding tax liabilities. For AY 2026-27, belated returns can generally be filed until December 31, 2026, subject to the applicable rules.
Taxpayers are therefore encouraged to avoid last-minute filing and ensure that their return is successfully submitted and e-verified. Timely compliance can help avoid additional costs and complications associated with delayed filing.
The deadline is an important compliance milestone for India’s business owners, professionals, freelancers and other eligible non-audit taxpayers as they complete their tax obligations for the financial year 2025-26.