File your ITR before July 31; over 1.7 crore people have filed their income tax returns so far—check the details..

ITR Filing: More than 1.7 crore income tax returns have been filed so far for the Assessment Year 2026-27. On Friday alone, over 10 lakh people filed their returns. The deadline for taxpayers required to file ITR-1 and ITR-2 is July 31. The department has urged taxpayers to file their returns early to avoid last-minute hassles. Filing on time can also expedite the refund process.

Over 1.7 Crore ITRs Filed
The Income Tax Department announced on the social media platform X that more than 1.7 crore taxpayers have filed their income tax returns for the Assessment Year 2026-27. The department termed this a sign of better taxpayer participation. More than 10 lakh returns were filed on Friday alone, indicating that the pace of filing has accelerated as the deadline approaches.

July 31 is the Deadline
The deadline for filing ITR-1 and ITR-2 for income earned in the financial year 2025-26 is July 31, 2026. The Income Tax Department has appealed to taxpayers not to wait until the last date. Filing returns on time helps avoid technical glitches and excessive server load, while also facilitating a smoother refund process.

Who Can File ITR-1?
ITR-1, also known as the 'Sahaj' form, is designed for small and medium taxpayers. It can be filed by individuals with an annual income of up to ₹50 lakh. Their income sources should be limited to salary, one house property, and agricultural income of up to ₹5,000. It is considered the simplest income tax return form.

Who Should File ITR-2?
ITR-2 is intended for individuals and Hindu Undivided Families (HUFs) who do not derive income from a business or profession. However, individuals who have earned income from capital gains are required to file ITR-2. This form is used by taxpayers whose income profile differs from that required for ITR-1.

Why filing returns on time is important
Filing income tax returns on time offers several benefits. It helps avoid late fees and other hassles. Taxpayers who file on time are more likely to receive refunds sooner. Additionally, a timely filed ITR proves useful for future requirements such as obtaining loans, visas, and other financial documents.

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