“I’ll do it tomorrow” often turns into deadline-day panic, warns income tax dept ahead of 31 July ITR due date

With the July 31 deadline for filing income tax return (ITR) for Assessment Year 2026-27 (FY2025-26) just two days away, the income tax department has issued a timely reminder for taxpayers who are still putting off the task.

In a post on social media platform X (formerly Twitter), the tax department cautioned that the familiar phrase “I’ll do it tomorrow” often ends in deadline-day panic, urging taxpayers to avoid last-minute filing rushes, technical glitches, and unnecessary stress by completing their returns before the due date.

The department also advised taxpayers to reconcile all relevant documents before submitting their tax returns. This includes checking details in Form 16, the Annual Information Statement (AIS), Form 26AS, bank statements and other income records to ensure the information reported in the ITR is accurate.

“‘I’ll Do It Tomorrow’ often turns into deadline-day panic. Don’t wait for July 31, 2026 to file your ITR-1 & ITR-2 for AY 2026-27. Reconcile your documents and file ITR-1 & ITR-2 for AY 2026–27 today!” the tax department’s X post read.

Who needs to file ITR on July 31?

The July 31 deadline for filing income tax returns applies to taxpayers who do not need to undergo a tax audit. This includes a large section of individual taxpayers such as salaried employees, pensioners, students, among others.

If you are filing ITR-1 or ITR-2, your due date continues to be July 31, 2026, which is just two days away. Here’s the eligibility criteria for filing ITR-1 and ITR-2:

— ITR-1 (Sahaj): This form is generally used by resident individuals with a total annual income of up to ₹50 lakh. It is meant for individuals whose income is limited to the following sources:

• Income from salary or pension
• Income from two house properties
• Long-term capital gains under Section 112A of up to ₹1.25 lakh
• Agriculture income up to ₹5,000
• Interest from savings accounts, deposits, income tax refund, enhanced compensation or any other interest income
• Income of spouse or minor is clubbed (only if the source of income is within the specified limits as mentioned above)

— ITR-2: This form becomes mandatory when a resident taxpayer’s income exceeds ₹50 lakh and their financial profile is more complex than what can be reported in ITR-1. A taxpayer must file ITR-2 in the following situations:

• When tax payment on ESOPs allotted by an eligible start-up has been deferred
• If you are a director in any company
• Income from more than two house properties
• Long-term capital gains under Section 112A of more than ₹1.25 lakh
• Short-term capital gains
• If you held any unlisted equity shares at any time during the previous year
• If you have any asset (including financial interest in any entity) located outside India
• If you have an agricultural income over ₹5,000
• If you have income from any source outside India
• Deposit of amount or aggregates of amount exceeding ₹1 crore in one or more current accounts
• Incurred expenditure of an amount or aggregate of amount exceeding ₹2 lakhs for travel to a foreign country for yourself or any other person
• Incurred expenditure of amount or aggregate of amount exceeding ₹1 lakh on consumption of electricity

While filing your ITR, the e-filing portal also helps you to choose the correct ITR form based on your income profile. It displays the eligibility criteria for each form, including who can and cannot use it.

However, if you are filing ITR-3 and ITR-4 forms, which are generally submitted by those with business or professional income or those opting for presumptive taxation schemes, the due date is August 31, 2026 and not July 31, 2026 as announced in Budget 2026.

How many people filed their ITRs so far?

According to income tax department’s data, more than 4.3 crore ITRs have been filed so far, with nearly 4.1 crore returns verified for AY 2026-27. However, millions of people are still yet to file their returns.

At the same time, nearly 2.4 crore returns have been processed by the tax department. For those delaying the process in the hope that the government will announce another extension this year, it may not happen this year.

When taxpayers faced technical glitches while filing their returns last year, the income tax department extended the ITR filing deadline not once but twice, from July 31 to September 15 and then to September 16. However, tax experts have repeatedly warned that a similar relief may not be given this year.