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Over 5 crore ITRs filed for AY 2026-27: Income Tax Department urges taxpayers to file before July 31 deadline

With the July 31 ITR filing deadline approaching, the Income Tax Department says over 5 crore returns have already been filed for AY 2026-27. Here's who should file ITR-1, who needs ITR-2, and why you shouldn't wait until the last minute.