India, July 31 -- With the deadline to file Income Tax Returns (ITR) for Assessment Year (AY) 2026-27 ending on Friday, July 31, lakhs of taxpayers are expected to make a last-minute dash to complete the process and avoid penalties, interest and compliance issues.

The deadline applies to most salaried individuals, pensioners and other taxpayers filing ITR-1 (Sahaj) and ITR-2, provided their accounts are not required to be audited. This includes people earning income from salary, one or more house properties, interest, dividends, capital gains and other eligible sources.

As of now, the government has not announced any extension to the July 31 deadline, despite such relaxations being granted in some previous years.

For most individuals, ...