ITR deadline today:Business, professional taxpayers must file returns by 31 August

The deadline to file income tax returns for taxpayers with business or professional income is Monday, 31 August, 2026. The deadline applies to taxpayers whose accounts are not required to be audited. The Income Tax Department has asked such taxpayers to file their returns on time. 31 August is the ITR deadline Taxpayers earning income from a business or profession and falling under the non-audit category have to file their Income Tax Return (ITR) by August 31. The deadline is for Assessment Year (AY) 2026-27. This relates to income earned during the financial year 2025-26. The Income Tax Department recently reminded taxpayers about the deadline through its official social media account. It said taxpayers with business or professional income who are not subject to audit should file their applicable ITR by August 31. In simple terms, taxpayers with business or professional income are people who earn money by running a business, doing a profession, or working independently, rather than earning only a salary. Examples of business income These are people who generally earn income from selling goods or running a commercial activity: Shop owners — grocery shop, clothing store, electronics shop, pharmacy, etc. Traders — people who buy and sell goods or commodities. Manufacturers — people running a small factory or production unit. Restaurant and café owners E-commerce sellers — people selling products through online platforms or their own websites. Wholesalers and distributors Contractors — construction, electrical, plumbing or other business contractors. Transport business owners — people operating trucks, buses, taxis or other commercial vehicles. Franchise owners Which taxpayers are covered? The August 31 deadline applies mainly to taxpayers whose income comes from business or profession and whose accounts do not need to be audited. This can include people running their own businesses, professionals and eligible taxpayers earning income from freelance or consulting work. The deadline can also apply to some taxpayers who have a regular salary but also earn income from business or professional activities. For such taxpayers, the correct ITR form depends on their income and tax situation. ITR-3 for business and professional income ITR-3 is meant for individuals and Hindu Undivided Families (HUFs) who have income from profits and gains of business or profession and do not qualify to use ITR-1, ITR-2 or ITR-4. The Income Tax Department lists ITR-3 as the applicable return for individuals and HUFs with business or professional income in such cases. Taxpayers should check their income details before selecting the form. ITR-4 for eligible small taxpayers ITR-4, also known as Sugam, is a simpler return form for certain resident individuals, HUFs and firms other than LLPs. It can be used by eligible taxpayers who have business or professional income calculated under the presumptive taxation scheme. The scheme covers sections 44AD, 44ADA and 44AE of the Income Tax Act. For AY 2026-27, ITR-4 is available to eligible taxpayers with total income of up to ₹50 lakh, subject to the conditions of the form. More than 2 crore ITR-3 and ITR-4 filed The Income Tax Department had said that more than 2 crore ITR-3 and ITR-4 forms had been filed by August 20. At that time, total ITR filings for AY 2026-27 had crossed 6.5 crore. More than 5.9 crore ITR-1 and ITR-2 forms had already been filed by the July 31 deadline. What happens if the deadline is missed? Taxpayers who do not file their return by the due date can still file a belated return, subject to the applicable rules. The Income Tax Department says that a belated return can be filed after the original due date. However, a late filing fee may apply. For ITR-4, the department says the late filing fee can be up to ₹5,000, along with interest on any unpaid tax liability. Taxpayers should also make sure that their return is verified after filing. The Income Tax Department says an ITR must be e-verified or the ITR-V must be submitted within 30 days of filing. Tax audit cases have a later deadline The 31 August deadline is for taxpayers whose accounts are not required to be audited. Taxpayers whose accounts are subject to tax audit have a different return filing deadline. The next major deadline for such cases is 31 October, 2026. Therefore, taxpayers should first check whether their accounts require an audit and then select the applicable ITR form and deadline.