Mumbai, Sep 15 || As the extended deadline for income tax return (ITR) filing ends on Monday, filers are hurrying to comply, with more than 1 crore returns anticipated on the final day.
As of now, 6.29 crore returns have been filed for the assessment year (AY) 2025–26.
Last year, ITR filings grew 7.5 per cent year-on-year, and assuming a similar pace, the number could touch 7.8 crore this year. The growth trend has been steady — 6.77 crore returns were filed in AY 2023–24, 5.82 crore in AY 2022–23, and 5.77 crore in AY 2021–22.
Tax experts caution that this year's challenges are intensified by the September 15 deadline for the second installment of advance tax, placing a dual burden on taxpayers and professionals.
Chartered accountants and tax lawyers have said that even with a fully operational portal, the clustering of deadlines would still put a strain on filers.