India Income Tax Department Sets August 31 Filing Deadline

The Income Tax Department of India announced that over 7 crore income tax returns have been filed for Assessment Year (AY) 2026-27 as of August 27, 2026. The agency is currently urging freelancers, consultants, self-employed professionals, and small business owners who are not subject to audit to file their returns by August 31, 2026.

This specific deadline for forms ITR-3, 4, 5, and 7 follows a revised calendar introduced by the Finance Act, 2026, which granted these taxpayers an additional month beyond the July 31 deadline applied to other non-audit individuals. The department clarified that AY 2026-27 returns remain governed by the Income-tax Act, 1961, even though the Income Tax Act, 2025 took effect on April 1, 2026.

Other filing milestones include September 30 for audit reports, October 31 for companies and taxpayers requiring audits, and November 30 for those with transfer-pricing obligations. Taxpayers who miss the August 31 date may file belated returns until December 31, 2026, but will face late-filing fees under Section 234F ranging from Rs 1,000 to Rs 5,000 based on their total income.