Over 5 crore ITRs filed for AY 2026-27; I-T Dept warns against last-minute rush
Synopsis
More than 5 crore income tax returns are already in for AY 2026-27, but the Income Tax Department is sounding the alarm ahead of the 31 July deadline. With revised CBDT forms adding new capital gains disclosures and the e-filing portal prone to last-minute gridlock, taxpayers who delay risk both technical headaches and a ₹5,000 penalty under Section 234F.
Key Takeaways
More than 5 crore ITRs have been filed for AY 2026-27 as of 30 July 2025 .
The Income Tax Department posted an advisory on X urging taxpayers to file ITR-1 or ITR-2 without delay.
The filing deadline for non-audit taxpayers is 31 July 2025 (for FY 2025-26).
CBDT revised ITR forms for AY 2026-27 include new disclosures on long-term capital gains , share buyback losses , and trading transactions.
In FY 2024-25 , over 9 crore returns were filed; refunds of ₹4,35,008 crore were issued.
Late filing can attract a penalty of up to ₹5,000 under Section 234F .
More than 5 crore income tax returns (ITRs) have been filed for Assessment Year (AY) 2026-27 so far, the Income Tax Department announced on 30 July, urging taxpayers to complete their submissions well before the 31 July deadline to avoid portal congestion and technical disruptions.
Key Developments
In a post on social media platform X, the department issued a direct advisory to taxpayers: 'Over 5 crore ITRs have already been filed for A.Y. 2026–27. Don't wait for the last-minute rush. Reconcile and file your ITR-1 or ITR-2 for AY 2026-27 today!' The warning is aimed at the large pool of salaried and non-audit taxpayers whose filing window closes on 31 July 2025 for the financial year FY 2025-26.
The pace of filings has accelerated sharply. As of 27 July, more than 4 crore returns had been submitted — up from 1.7 crore earlier in the season — indicating a surge typical of the days leading up to the deadline.
What Taxpayers Must Do
The department has advised filers to reconcile key documents before submitting returns, including Form 16, the Annual Information Statement (AIS), Form 26AS, bank statements, and other income records. Discrepancies between these documents and the ITR can trigger notices or delays in refund processing.
The Central Board of Direct Taxes (CBDT) had earlier notified revised ITR forms for AY 2026-27, incorporating updated disclosure norms covering long-term capital gains, losses from share buybacks, and certain trading transactions — changes that require taxpayers to review their filings more carefully than in prior years.
Context: Last Year's Filing Numbers
The scale of this year's filings is being measured against a strong baseline. During FY 2024-25, more than 9 crore taxpayers filed income tax returns by 31 March 2025. Of these, 8.64 crore returns were e-verified, and refunds totalling ₹4,35,008 crore were issued during the period — underscoring the financial stakes of timely and accurate filing.
Why the Rush Warning Matters
The Income Tax Department's e-filing portal has historically experienced slowdowns in the final hours before major deadlines, with taxpayers reporting login failures, OTP delays, and submission errors. The department's repeated advisories this season reflect an intent to distribute the filing load more evenly across the remaining days. Notably, this is the first assessment year where the revised CBDT forms with expanded capital gains disclosures are in effect, adding a layer of complexity for investors and traders.
With the 31 July 2025 deadline now hours away, taxpayers who have not yet filed are advised to act immediately to avoid late-filing penalties under Section 234F of the Income Tax Act, which can go up to ₹5,000.
Point of View
But it likely represents less than half of the total expected returns — meaning tens of millions of taxpayers are still in the queue with hours to go. The department's X advisory is a well-worn script at this point; what is new this year is the added complexity of revised CBDT forms covering capital gains and buyback losses, which raises the error rate risk. If the portal buckles on 31 July, the conversation will quickly shift to whether the deadline should be extended — a debate that plays out almost every year and that the government has so far resisted, citing taxpayer complacency as the root cause.
NationPress
30 Jul 2026
Frequently Asked Questions
What is the last date to file ITR for AY 2026-27?
The deadline to file income tax returns for Assessment Year 2026-27 (FY 2025-26) is 31 July 2025 for taxpayers not required to get their accounts audited. Missing this date can attract a late-filing penalty of up to ₹5,000 under Section 234F.
How many ITRs have been filed for AY 2026-27 so far?
More than 5 crore income tax returns have been filed for AY 2026-27 as of 30 July 2025, according to the Income Tax Department. The count rose from 1.7 crore earlier in the season to over 4 crore by 27 July, reflecting a sharp acceleration ahead of the deadline.
What documents should taxpayers check before filing their ITR?
The Income Tax Department advises taxpayers to reconcile Form 16, the Annual Information Statement (AIS), Form 26AS, bank statements, and other income records before submitting their returns. Discrepancies between these documents can lead to notices or delayed refunds.
What has changed in the ITR forms for AY 2026-27?
The Central Board of Direct Taxes (CBDT) has notified revised ITR forms for AY 2026-27 that include updated disclosure requirements for long-term capital gains, losses from share buybacks, and certain trading transactions. Taxpayers with such income should review the new fields carefully before filing.
What happens if I miss the 31 July ITR deadline?
Missing the 31 July 2025 deadline means you will need to file a belated return, which attracts a penalty of up to ₹5,000 under Section 234F of the Income Tax Act. Additionally, you may lose the ability to carry forward certain losses, and interest on any tax due will continue to accrue.
