Glossary · Income Tax
Income Tax Return (ITR)
Also known as: ITR, income tax filing, tax return
An Income Tax Return (ITR) is the annual filing in which a taxpayer reports income, deductions and tax paid to the Income Tax Department. For AY 2026-27, non-audit individuals file by 31 July, while audit cases file by 31 October. The correct ITR form depends on the income type.
An Income Tax Return (ITR) is the yearly statement in which a person or entity reports total income, claims deductions, and reconciles the tax already paid through TDS or advance tax against the final liability. It is filed with the Income Tax Department for the relevant assessment year.
How it works
For AY 2026-27, the main due dates are:
- Non-audit individuals: 31 July
- Audit cases: 31 October
(Always confirm near the deadline — government extensions are common.)
The right ITR form depends on the taxpayer’s profile — salary, business or profession, capital gains, or company income. Picking the wrong form or missing the deadline can trigger penalties, interest and loss of certain benefits like carry-forward of losses.
ITR season is the busiest stretch of the year for most CA firms. The work depends on upstream data: TDS returns feed Form 26AS and the Annual Information Statement, and businesses crossing the tax audit thresholds get the later October date.
Because hundreds of returns move through the firm in a few weeks, status tracking matters. Knowing which client’s documents are pending, which return is drafted and which is filed is exactly the visibility practice management software provides.
Compare how tools handle ITR workflows in our rankings and our QwikCA review, and browse related terms in the glossary.