Kolkata: There are just about 48 hours for the July 31 deadline for filing ITRs(without penalty) to expire. Taxpayers are now rushing to complete their
income tax returns. However, if you have the necessary documents such as Form 16, AIS, bank details, investment proofs and tax payment records ready, the ITR filing process can be completed within a few minutes only. The deadline is unlikely to be extended by the authorities since there has not been any extraordinary situation this year. However, one must reiterate that rushing to complete the filing process without taking care to ensure the correctness of the information filed in the ITR is stupidity because it could attract notices from the Income Tax Department. More than 4.37 crore tax returns have been filed successfully, says the Income Tax Department.
File ITR in 10-15 minutes
Tax practitioners have stated that if all documents are in place it takes only a few minutes to file taxes.
“Nowadays ITR-1 form are pre-filled with information collected from the Annual Information Statement and Taxpayer Information Summary on the Income Tax e-filing portal. Significantly, it is applicable to all, regardless of whether he/she files tax in the new system or old,” says Ivy Dasgupta, a Kolkata-based Income Tax professional. Since the data is auto-populated, one only needs to confirm the information.
“With only two days remaining to file your Income Tax Return (ITR), taxpayers should avoid last-minute delays and keep all essential documents such as Form 16, the Annual Information Statement (AIS), bank details, and investment proofs ready. If the information is verified in advance and the correct tax regime is selected, the return can often be filed accurately in as little as 10 minutes through the e-filing portal,” Nishant Shanker, tax & investments expert, Navraj Global Advisors has been quoted in the media as saying.
ITRs filed so far (AY 2026-27)
Returns filed: 4,37,76,398
Returns verified: 4,11,14,753
ITRs processed: 2,33,77,962
It is clear from the above numbers that a very large number of tax filers are yet to file their ITRs. This will rise as the clock ticks. But the point is to ensure accuracy of disclosures before one presses the submit button. The key areas to focus on include salary income, banking information, deductions, any other investments and tax payments before the return is filed.
