Over 3 Crore ITRs Filed Ahead of July 31 Deadline: Key Things Taxpayers Must Know:

The deadline for filing Income Tax Returns (ITR) is just a week away, on 31 July 2026. As the deadline approaches, many taxpayers are rushing to get their returns done early, to avoid the last-minute rush as well as late fees and other penalties.

So far, more than 3 crore ITRs have been filed till now. It suggests that a growing number of taxpayers are recognising the value of filing their returns on time and are opting to meet the deadline.

However, tax experts have advised those who are yet to file their returns not to delay any further. Missing the deadline can lead to additional costs, delays in refunds and other compliance-related problems.

ITR filing crosses 3 crore mark ahead of July 31 deadline

A tax expert said taxpayers should not wait until the last day to file their returns, especially as more than 3 crore ITRs have already been filed.

“With the July 31 deadline approaching, taxpayers should not wait till the last minute, especially now that over 3 crore returns have already been filed. Missing the deadline can lead to late fees, interest, refund delays, and extra compliance hassle. Filing early also helps avoid portal rush, errors, and last-minute document mismatches.”

Keeping these points in mind, taxpayers should be aware of the following important aspects as the deadline approaches.

Key things to check before filing your ITR

The deadline to file ITR is July 31, 2026 and more than 3 crore returns have already been filed. Taxpayers who miss the deadline can file a late return until Dec. 31, 2026. For income up to Rs 5 lakh, late filing fee of Rs 1,000 is applicable and for income above Rs 5 lakh, it may have to pay Rs 5,000. Further, interest at the rate of 1% per month or part thereof may be charged under section 234A, where applicable. Delaying the filing can also lead to refund delays and the loss of certain tax benefits.

Missing the deadline can lead to penalties, interest and loss of certain tax benefits

Tax experts have also pointed out that while taxpayers can file a belated return after missing the deadline, this option comes with additional costs and restrictions.

The fact that more than 15 lakh ITRs were filed in a single day and the total number has crossed 3 crore shows that taxpayers are becoming more serious about timely compliance, a tax expert said.

“If you still miss the July 31 deadline, don't panic. You can file a belated return till December 31; however, it comes with a late fee, interest, and you lose out on carrying forward certain losses,” the expert said.

Under Section 234F, the late filing fee is Rs 1,000 if the total income does not exceed Rs 5 lakh. If the total income is more than Rs 5 lakh, the late fee can be Rs 5,000. In addition, interest may be charged under Section 234A at the rate of 1% per month or part of a month on any outstanding tax liability.

Another tax expert said that taxpayers who miss the 31 July ITR filing deadline can still file a belated return by 31 December.

“Taxpayers who miss the 31 July ITR filing deadline can still file a belated return by 31st December, subject to interest under Section 234A for late filing and a late filing fee of Rs 5,000 (Rs 1,000 if the total income is less than Rs 5 lakh) and applicable interest on unpaid taxes. Further, carry forward of losses and certain exemptions will also not be allowed,” the expert said.

The expert added that taxpayers who find any mistake or omission after filing their return can submit a revised return within the prescribed time. Those who fail to report income even after that may be able to file an updated return, subject to the applicable conditions and payment of additional tax.

With the 31 July deadline now only about a week away, taxpayers who have not yet filed their returns should use the remaining time to complete the process as soon as possible.

Filing the ITR on time can help taxpayers avoid late fees and interest. It can also help ensure faster refunds, protect eligible tax benefits and reduce compliance-related problems later. While taxpayers can still file a belated return until 31 December, tax experts advise treating this as a last resort and not as a planned alternative to filing on time.

How to file ITR on time & correctly?

If you have not filed your tax return or completed the e-verification process, don’t panic. But there’s no need to wait any longer.

Tax experts advise taxpayers to complete their ITR filing and e-verification within the stipulated deadline. Before submitting the return, taxpayers should carefully check their income details, tax deductions, bank information and other important documents to avoid errors.

Filing early can also help taxpayers avoid technical glitches on the income tax portal and allow them enough time to rectify any errors before the deadline.