If you have income from a business or profession, choosing the correct Income Tax Return (ITR) form is important before filing your return for the Assessment Year (AY) 2026-27. For taxpayers with business or professional income and whose accounts are not required to be audited, the deadline to file an ITR through Forms 3 and 4 is August 31, 2026.
The two forms are meant for different types of taxpayers and income situations.
ITR-4, also known as Sugam, is mainly meant for taxpayers opting for the presumptive taxation scheme.
ITR-3, on the other hand, is used by individuals and Hindu Undivided Families (HUFs) with business or professional income who do not qualify to file ITR-4.
The Income Tax Department has written in a social media message on X (formerly Twitter): “Do you have business or professional income? If yes, and your return for AY 2026–27 falls under the non-audit category, remember to file your applicable ITR (ITR-3, ITR-4, ITR-5 or ITR-7) by August 31, 2026.
Don’t wait for the last minute. File your non-audit ITRs (ITR-3, 4, 5, and 7) before 31st August 2026.”
Confirm your eligibility for ITR-4 (presumptive business income up to Rs 50 lakh) versus ITR-3 (full books of accounts, F&O trading, or income over Rs 50 lakh)
