7.5 Cr ITRs Filed: Miss Tonight's Deadline?

A record 7.5 crore income tax returns have been filed for AY 2026-27. If you have business or professional income and are not under audit, tonight at midnight is your last chance to file without a penalty.

Here's what happened: A record 7.5 crore income tax returns have been filed for Assessment Year 2026-27, surpassing all previous years at this stage of the filing cycle.. Tonight at midnight is the ITR deadline for taxpayers with business or professional income who are NOT subject to a statutory tax audit.. No official extension has been announced by the Income Tax Department as of now, making tonight the hard cutoff for this category of filers..

What you should do: File your ITR immediately on incometax.gov.in — even a rough self-filed return submitted before midnight avoids the ₹5,000 late fee and protects your loss carry-forward.. Check your Form 26AS and AIS on the IT portal to confirm that TDS credits and income details are correctly reflected before you submit.. If you genuinely cannot file tonight, calculate any outstanding tax liability and pay it via Self-Assessment Tax (Challan 280) before midnight — this reduces your Section 234A interest burden even if you file the return later..

Filing before midnight preserves your right to carry forward business and capital losses. A belated return permanently forfeits this — costing you real tax savings in future years.

For readers weighing their credit and loan options, our personal loan guide and CIBIL score resources put this update in context.