Over 1.7 crore ITRs filed for AY 2026-27; July 31 deadline looms
Synopsis
More than 1.7 crore Indians have already filed their income tax returns for AY 2026-27 — with over 10 lakh submissions on a single Friday. With the 31 July deadline weeks away and CBDT tightening disclosure norms around capital gains and buyback losses, this filing season carries more compliance weight than most.
Key Takeaways
More than 1.7 crore ITRs have been filed for AY 2026-27 as of 11 July 2025 .
Over 10 lakh returns were submitted on Friday, 10 July alone.
The Income Tax Department has urged eligible taxpayers to file before the 31 July 2025 deadline.
CBDT revised ITR forms now require additional disclosure on long-term capital gains , share buyback losses , and certain trading transactions.
Net direct tax collections rose 14.64% year-on-year to ₹5.21 lakh crore between 1 April and 17 June FY27 .
More than 1.7 crore income tax returns (ITRs) have been filed for Assessment Year (AY) 2026-27 as of 11 July 2025, the Income Tax Department confirmed, urging remaining taxpayers to complete the process well before the 31 July deadline to avoid a last-minute surge. The figures signal a brisk early filing pace, with over 10 lakh returns submitted on Friday alone.
Filing Momentum and Key Numbers
The Income Tax Department shared the milestone in a post on X, describing the early filers as having taken 'the smart step.' The single-day tally of more than 10 lakh returns on Friday, 10 July, points to accelerating activity as the deadline draws closer. Historically, a significant share of annual filings clusters in the final fortnight of July, placing pressure on the e-filing portal and departmental processing systems.
Which ITR Forms Are Available
The department had enabled ITR filing for Financial Year 2025-26 (AY 2026-27) in May 2025, releasing Excel utilities for ITR-1 and ITR-4 forms on the e-filing portal alongside online filing options.
ITR-1 (Sahaj) applies to resident individuals with annual income up to ₹50 lakh from salary, one house property, and other sources — including agricultural income up to ₹5,000 per year. ITR-2 covers individuals and Hindu Undivided Families (HUFs) without business or professional income but with earnings from capital gains and similar sources.
What Changed in AY 2026-27 Forms
The Central Board of Direct Taxes (CBDT) notified revised ITR forms for AY 2026-27 with updated disclosure requirements. The changes introduce additional reporting obligations around long-term capital gains, losses from share buybacks, and certain trading transactions — reflecting tighter scrutiny of investment-linked income.
Direct Tax Collections Surge
The filing uptick comes against a backdrop of robust tax revenue. India's net direct tax collections rose 14.64 per cent year-on-year to ₹5.21 lakh crore during 1 April–17 June FY27, according to departmental data. Gross direct tax collections climbed 12.46 per cent to ₹6.1 lakh crore from ₹5.4 lakh crore in the corresponding period a year earlier.
What Taxpayers Should Do Now
The Income Tax Department has specifically urged eligible taxpayers yet to file to act before the 31 July 2025 deadline. Missing the deadline attracts late-filing fees and can restrict the ability to carry forward certain losses. With over three weeks remaining, tax professionals advise gathering Form 16, capital gains statements, and bank interest certificates at the earliest to avoid portal congestion closer to the cut-off.
Point of View
Meaning the bulk of filings are yet to come. The real stress test is the final week of July, when portal overloads have historically caused missed deadlines — a systemic failure the department has acknowledged but not fully resolved. CBDT's tightened disclosure norms for capital gains and buyback losses this year add compliance complexity precisely when filers are most rushed. If the government is serious about broadening the tax base, easing the annual filing crunch — not just celebrating early numbers — is the more meaningful metric.
NationPress
11 Jul 2026
Frequently Asked Questions
How many ITRs have been filed for AY 2026-27 so far?
More than 1.7 crore income tax returns have been filed for Assessment Year 2026-27 as of 11 July 2025, with over 10 lakh returns submitted on Friday, 10 July alone, according to the Income Tax Department.
What is the last date to file ITR for AY 2026-27?
The deadline to file income tax returns for AY 2026-27 is 31 July 2025. The Income Tax Department has urged taxpayers to file before this date to avoid last-minute portal congestion and late-filing penalties.
What are the new disclosure requirements in ITR forms for AY 2026-27?
The Central Board of Direct Taxes (CBDT) has revised the ITR forms for AY 2026-27 to include additional reporting on long-term capital gains, losses arising from share buybacks, and certain trading transactions, reflecting stricter scrutiny of investment income.
Who should file ITR-1 (Sahaj) and who should file ITR-2?
ITR-1 (Sahaj) is for resident individuals with annual income up to ₹50 lakh from salary, one house property, and other sources including agricultural income up to ₹5,000. ITR-2 applies to individuals and Hindu Undivided Families (HUFs) who have income from capital gains but no business or professional income.
How have India's direct tax collections performed in FY27?
Net direct tax collections rose 14.64 per cent year-on-year to ₹5.21 lakh crore between 1 April and 17 June FY27, while gross collections grew 12.46 per cent to ₹6.1 lakh crore from ₹5.4 lakh crore in the same period the previous year, according to the Income Tax Department.
