The record
Written from the 1 report below. Nothing here is unsourced.
- The Income Tax Department is urging taxpayers to file their income tax returns for Assessment Year 2026-27 before the July 31 deadline, warning that late filings may attract penalties and interest.
- Over 5 crore returns have been filed so far, with more than 30 lakh filed on July 29 alone.
- No extension of the deadline has been announced.
- Missing the deadline can result in a late fee of Rs 5,000, interest on unpaid tax, delayed refunds, and loss of the ability to carry forward certain losses.
What to watch next
- Whether the Income Tax Department announces any extension of the July 31 deadline
- Total number of ITRs filed by the deadline compared with previous years
- Any further official advisories on common filing errors such as wrong form selection or failure to e-verify
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All filed from India
Named India · HT News Desk · Income Tax Department
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