New Delhi, Aug 1 : More than 5.9 crore income tax returns (ITRs) have been filed for the Assessment Year (AY) 2026-27 by the July 31 deadline, the Income Tax Department said on Saturday, while thanking taxpayers for their timely compliance.

In a post on social media platform X, the department said, "Thank you, taxpayers! Over 5.9 crore ITRs were filed for AY 2026-27 by July 31st! Your trust and timely compliance provide the energy that fuels India's growth."

The latest figures indicate that over 40 lakh returns were filed on the final day, as taxpayers rushed to meet the July 31 due date for individuals and entities that are not required to get their accounts audited.

The filing momentum gathered pace sharply in the final weeks before the deadline.

The department had earlier said that more than 1.7 crore ITRs had been filed by July 11 -- which rose to over 3 crore by July 22.

Later, the number crossed 4 crore by July 27, exceeded 5 crore on July 31 and reached more than 5.5 crore before the close of filing on Friday, before finally crossing the 5.9-crore mark.

In addition, the Income Tax Department had repeatedly urged taxpayers not to wait until the last moment and to complete the filing process well before the deadline to avoid possible technical glitches and heavy traffic on the e-filing portal.

For AY 2026-27, the Central Board of Direct Taxes (CBDT) notified revised ITR forms incorporating updated disclosure requirements. These include reporting norms relating to long-term capital gains, losses arising from share buybacks and certain trading transactions among other changes aimed at improving transparency and simplifying tax compliance.

Last year, more than 9 crore taxpayers filed income tax returns during FY 2024-25, while the Income Tax Department issued refunds worth over Rs 4.35 lakh crore, highlighting the growing scale of India's direct tax administration.

/IANS