Haven't filed ITR yet? Know if August 31 is your deadline and 6 key things to check

Still haven't filed your income tax return? If you fall under the non-audit category, there is no more time to wait.August 31, 2026, is the last date to file income tax returns for assessment year (AY) 2026-27 for eligible taxpayers whose accounts do not require an audit. This mainly covers people earning income from a business or profession.So, if you are a freelancer, consultant, small business owner or a trader with business income, it is worth checking whether today's deadline applies to you.The Income Tax Department has been encouraging taxpayers to file their returns without waiting until the last minute. More than 7 crore ITRs for AY 2026-27 had already been filed as of August 27, 2026, according to the department. But who exactly needs to file their ITR today? And if you are rushing to meet the deadline, what mistakes should you avoid?WHO NEEDS TO FILE ITR BY AUGUST 31?The August 31 deadline mainly applies to taxpayers with business or professional income who are not required to get their accounts audited. According to Nishant Shanker, Tax Controversy & Dispute Resolution at Navraj Global Advisors, the category includes several types of taxpayers.Freelancers and independent professionalsIf you work independently as a consultant, developer, writer or in another profession and earn professional income, you may fall under the August 31 filing deadline.This also covers people who earn from their professional services outside a regular salaried job, depending on their individual tax position.Small business ownersSmall business owners who opt for presumptive taxation under Sections 44AD or 44AE can also fall under this category, subject to the conditions applicable to them.The presumptive taxation scheme allows eligible taxpayers to calculate their taxable business income in a simpler way instead of maintaining detailed books of accounts in the usual manner.Intraday and F&O tradersIf you actively trade in the stock market, don't assume that your entire income will automatically be treated as capital gains.Intraday trading and futures and options (F&O) income can be treated as business income in certain cases. Such taxpayers may therefore fall under the August 31 deadline if they are not subject to audit.Salaried people with side incomeHaving a salary does not necessarily mean you can ignore the August 31 deadline.A salaried individual who also earns money from freelancing, consulting or active trading may have business or professional income that changes the applicable filing requirements.Partnership firms, LLPs, HUFs and associationsCertain partnership firms, LLPs (Limited Liability Partnership), HUFs (Hindu Undivided Family) and associations that are not required to undergo a tax audit may also have to file their returns by August 31.However, the exact filing requirement can vary depending on the taxpayer's income, entity type and other conditions under the tax law.WHAT MISTAKES SHOULD YOU AVOID WHILE FILING ITR?With the deadline falling today, taxpayers may be tempted to rush through the return. But filing quickly should not mean filing carelessly.Here are some important checks to make before submitting your ITR.Don't forget any source of incomeOne of the biggest mistakes taxpayers can make is leaving out an income source.This could include freelance payments, interest from bank deposits, rental income, dividends, capital gains or income from trading.Before filing, check your financial records and make sure all relevant income has been reported.Shanker advises taxpayers to "check that all income sources have been reported" before submitting the return.Reconcile AIS, TIS and Form 26ASDon't rely only on the information you remember while preparing your return.The Annual Information Statement (AIS), Taxpayer Information Summary (TIS) and Form 26AS can help you cross-check income, TDS and other financial information reported to the tax department.Shanker says taxpayers should ensure that "AIS/TIS and Form 26AS have been reconciled" before filing.If you find a mismatch, check the transaction and supporting documents rather than simply entering a figure without verification.Select the correct ITR formChoosing the right ITR form is another important step.The form required depends on factors such as your income sources and whether you have business or professional income. Someone with only a salary income may have different filing requirements from a person who also earns from a business, profession or trading.Selecting the wrong form can create problems with the return later.Don't claim deductions or expenses without proofTaxpayers should make sure that the deductions and expenses they claim are genuine and supported by relevant documents.This is particularly important for people reporting business or professional income.Shanker advises taxpayers to ensure that "deductions and expenses are supported".Keep invoices, receipts, investment proofs and other relevant documents safely in case they are needed later.Check your bank detailsA mistake in your bank account details can cause unnecessary problems, especially if you are expecting a refund.Before submitting the return, check your account number, IFSC and other bank details entered in the ITR.Check the final tax liabilityBefore you submit the return, go through the tax calculation once more.Check your income, deductions, TDS, advance tax and any tax already paid. If there is additional tax to be paid, make sure the payment is completed correctly.Shanker says taxpayers should ensure that "the final tax liability is accurate."FILING ITR IS NOT THE END: DON'T FORGET E-VERIFICATIONThere is one final step that taxpayers should not overlook after submitting their return, i.e., e-verification.Shanker specifically advises taxpayers to "most importantly, e-verify the return after submission."So, if August 31 is your applicable ITR filing deadline, don't leave everything to the last few hours.Before submitting the return, take a final look at your income, AIS/TIS, Form 26AS, deductions, expenses, ITR form, bank details and tax liability.And once the return is submitted, make sure you complete the e-verification process.- EndsPublished By: Jasmine anandPublished On: Aug 31, 2026 12:00 IST