The Income Tax Department on Monday said more than 7.5 crore income tax returns (ITRs) have already been filed for assessment year 2026-27 and urged taxpayers with business or professional income who are not subject to audit requirements to complete the filing process before the due date ends.

In a post on social media platform X, the department said the deadline for filing non-audit business or professional income tax returns falls on August 31, 2026 and advised eligible taxpayers not to wait until the last moment.

"Over 7.5 Crore ITRs have already been filed for AY 2026-27," the department said on X.

"The clock is ticking for the (non-audit) business or professional income tax return (ITR) filing deadline (August 31, 2026). If you haven't filed your ITR 3, 4, 5, or 7 (non-audit) yet, don't wait for the eleventh hour. File now!" it added.

The reminder comes as taxpayers rush to meet the filing deadline applicable to individuals and entities with business or professional income that are not required to get their accounts audited under income tax laws.

In addition, ITR-3 is generally used by individuals and Hindu Undivided Families (HUFs) earning income from business or profession who are not eligible to file simpler return forms.

While ITR-4 -- also known as Sugam -- is meant for eligible resident individuals, HUFs and firms, excluding LLPs, opting for presumptive taxation schemes.

ITR-5 is applicable to firms, LLPs, associations of persons and certain other entities, while ITR-7 is filed by persons and institutions required to furnish returns under specific provisions of the Income Tax Act.

Failure to file returns within the prescribed due date can attract late filing fees and interest liabilities, besides affecting eligibility for certain tax-related benefits available to compliant taxpayers.

Moreover, a belated return for AY 2026‑27 can be filed until December 31, 2026 or before completion of assessment, whichever is earlier but late filing can forfeit the ability to carry forward losses, including eligible business or capital losses.