Who needs to file ITR by 31 August? Check list of eligible taxpayers, applicable forms and audit requirements
The 31 August ITR deadline is meant for specific taxpayers, including freelancers, professionals, traders and small business owners filing ITR-3 or ITR-4 without a tax audit. Eligibility depends on the applicable return form and whether audit provisions apply.
Confused about who needs to file an Income Tax Return (ITR) by 31 August? This deadline is not meant for every taxpayer. It applies only to certain individuals and HUFs based on the ITR form they file and whether they are required to undergo a tax audit.
If you earn income from a business, profession, freelance work, or F&O trading, you may need to file your ITR by 31 August.
Here's a look at who can file their ITR by 31 August and the key conditions that apply.
Who needs to file ITR by 31 August?
The 31 August deadline applies to individuals and Hindu Undivided Families (HUFs) who are not liable for a tax audit and are required to file ITR-3 or ITR-4.
Explaining the change, Apurv Gupta, Co-founder & CEO of Otto Money, said, “The Finance Act, 2026, has amended Section 139(1) to split that into two: 31 July for ITR-1 and ITR-2 filers, and 31 August for ITR-3 and ITR-4 filers who are not liable to tax audit.”
ITR forms applicable for the 31 August deadline
| ITR Form | Who should file? | Due date |
| ITR-3 | Individuals and HUFs with business or professional income not liable for tax audit | 31 August 2026 |
| ITR-4 | Eligible taxpayers opting for the presumptive taxation scheme and not liable for tax audit | 31 August 2026 |
Taxpayers covered under 31 August deadline
The 31 August due date generally applies to the following taxpayers, provided they are not liable for a tax audit:
- Freelancers and independent professionals
- Consultants
- Small business owners
- Intraday and F&O traders
- Taxpayers eligible for the presumptive scheme under Sections 44AD, 44ADA and 44AE
- Salaried individuals with additional freelance or consulting income
- Salaried individuals with F&O or intraday trading income
Gupta also shared examples of taxpayers who can file their ITR by 31 August.
| Income profile | ITR filing deadline |
| Salary + freelance or consulting income | 31 August 2026 |
| Salary + F&O or intraday trading income | 31 August 2026 |
| Small business owner or professional (not liable for tax audit) | 31 August 2026 |
Who does not need a tax audit?
The 31 August deadline is applicable only to taxpayers who are not liable for a tax audit under Section 44AB of the Income Tax Act.
Explaining the eligibility, Gupta said, “Section 44AB thresholds for FY 2025-26 are applicable for business turnover above ₹1 crore, rising to ₹10 crore where both cash receipts and cash payments are within 5% of the total; professional gross receipts above ₹50 lakh.”
He further added, “Audit is also triggered where a taxpayer declares profits below the presumptive rate under Sections 44AD, 44ADA or 44AE and total income exceeds the basic exemption limit.”
In simple terms, the 31 August deadline applies if you are not liable for a tax audit for income earned in FY 2025-26 and meet any of the following conditions:
- Your business turnover does not exceed ₹1 crore (subject to the higher threshold where applicable under Section 44AB).
- Your professional gross receipts do not exceed ₹50 lakh.
Disclaimer: This is only for informational and educational purposes. Please consult a qualified tax expert for the latest tax laws and regulations.
About the Author
Sheetal Goel is a Content Producer at Livemint, where she covers corporate developments, personal finance, business trends, markets, and SEBI-related updates. She focuses on simplifying complex financial concepts and presenting them in a clear, reader-friendly manner, thereby helping audiences better understand investment trends, personal finance, and market developments. Her writing focuses on making finance more accessible to everyday readers while maintaining clarity, accuracy, and relevance. <br><br> She holds a degree in Economics (Hons.) along with an MBA in Finance, which has helped her develop a strong foundation in financial analysis, market understanding, and business reporting. Before joining journalism, she worked with finance and broking firms, where she closely followed market developments, investment strategies, and evolving industry trends. This practical exposure strengthened her understanding of financial markets. She has also written content across multiple formats and platforms, including YouTube, LinkedIn, and Instagram. <br><br> Over time, she has developed expertise in covering market-linked stories, investor-focused topics, and regulatory updates in a simplified yet informative style. She also enjoys reading and listening to Hindi poetry, reflecting her appreciation for literature and creative expression beyond the world of markets and numbers.
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