As the financial year 2025-26 concludes, taxpayers in India are gearing up for the Income Tax Return (ITR) filing season for the assessment year 2026-27. The Income Tax Department is expected to enable the necessary filing utilities around May 2026. The due dates for ITR submissions are set for July 31, 2026, for individuals, August 31, 2026, for non-audit business income, October 31, 2026, for taxpayers requiring audits, and November 30, 2026, for those under transfer pricing provisions. Filing ITR is mandatory if taxable income exceeds the basic exemption limit of ₹2.5 lakh (approximately $3,000 USD) under the old regime or ₹4 lakh (approximately $4,800 USD) under the new regime. However, even individuals with income below these limits may benefit from filing, as it serves as proof of income for loans and other financial transactions. Taxpayers are advised to prepare early by checking their PAN-Aadhaar linkage, downloading relevant financial data, and gathering necessary documents to avoid last-minute issues.