income tax
The biggest question in the minds of crores of taxpayers filing Income Tax Returns (ITR) at this time is whether the last date for filing ITR for Assessment Year (AY) 2026-27 will be extended? According to the information available at present and the opinion of experts, its possibility appears to be very less.
Students, pensioners, employed people and other taxpayers who are not required to get tax audited will have to file their income tax returns by July 31, 2026. This time the e-filing system of the Income Tax Department is working properly and a large number of people have started filing returns before time. According to the data of e-filing portal, till now about 65 lakh taxpayers have started the process of filing their ITR. This shows that this year the return filing work is going on at a normal pace and there is no major technical crisis.
Why did the date have to be extended last year?
Last year the situation was different. At that time, it took more time than expected to implement the new ITR form and new tax rules. Due to this, ITR filing utilities were released quite late. This was the reason that initially the deadline of 31st July was extended to 15th September and later it was extended by one more day to 16th September. Many taxpayers were not able to file returns on time, so the government had to take this decision. But this year no such major reason has emerged. Most of the ITR forms and their associated utilities have been made available on time and the filing process is also going on without any major hassles.
What should taxpayers do?
Experts advise that taxpayers should not wait for the last moment. Prepare all the necessary documents in time, check Form 16, bank statements and other financial information. Also file ITR as soon as possible. This also increases the chances of correcting the mistake and getting the refund quickly. At present, indications are that there is little possibility of any extension in the last date of 31 July 2026 for AY 2026-27. Therefore, taxpayers should complete preparations for filing their returns within the prescribed time limit.
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