ITR deadline on 31 August: Here's who must file their returns, checklist for taxpayers and top things to know

For those with business or professional (including freelancers) income, deadline to file their income-tax returns is fast approaching on 31 August. Taxpayers filing non-audit income tax returns will have to use the ITR-3 or ITR-4 forms, as applicable.

According to the I-T portal, more than 6.5 crore ITR filings (ITR-1, 2 and including over 2 crore ITR-3, 4) were completed by the 31 July deadline. This included salaried individuals, students with income, pensioners and those with income from multiple house properties, bank or post bank interest, dividends, capital gains, and / or other sources

Now, for those filing ITR-3 form, as well as those opting for the presumptive taxation scheme using ITR-4 (Sugam) form, the due date is as follows:

Taxpayers can file their returns using the official e-filing portal here — https://eportal.incometax.gov.in/iec/foservices/#/login . Taxpayers can log in using their PAN details, select the applicable ITR form, verify their income and deduction details (if filing under old tax regime), pay tax due (when necessary) and complete e-verification after submission of the return.

The e-filing portal also provides access to pre-filled information based on available records, including details from Form 16 , Annual Information Statement (AIS) and Taxpayer Information Summary (TIS).

Alternatively, if you so choose, you can engage with a Chartered Accountant (CA) or registered tax expert to file your returns by a third-party authorised representative. Further, a number of fintech and tax information platforms also provide services that include advice, assistance and filing of returns for a cost.

The Income-Tax Department posted on X explaining how taxpayers filing non-audit income tax returns by 31 August can ensure they select the correct ITR form before filing.

ITR-3 is applicable if you are an individual or HUF with business or professional income but do not opt for presumptive taxation, including cases where you maintain regular books of account, have total income above ₹ 50 lakh, or engage in F&O trading.

ITR-4 is applicable if you are an individual, HUF or firm opting for presumptive taxation of business or professional income, with total income of up to ₹ 50 lakh.

Filers of ITR-3 and ITR-4 must have Form 26AS, AIS, TIS, Form 16 and 16A, bank passbooks and advance/self-assessment tax challans. See the following checklist:

Disclaimer: This is only for informational and educational purposes. Please consult a qualified expert for the latest laws and regulations.

Jocelyn Fernandes is a journalist and editor with nearly 13 years of experience covering the business, corporate, economy and markets beats in news.<br> As chief content producer for around three years at Livemint (Hindustan Times), Jocelyn publishes breaking stories, explainers, features and live blogs on a range of business and economy topics, including the Budget, corporate developments, stock markets, income tax, money and personal finance, cryptocurrency, government policy, impact of US tariffs, international developments and more.<br> Jocelyn's writing philosophy is focused on delivering news in an accurate and accessible format for readers.