« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  SC refuses to stay AS-22... Court case for directors not filing e-returns... » People scramble to file tax-returns July, 31st 2007 With July coming to an end, taxpayers across the country have joined queues to beat the last date for filing returns. This year the last date for filing income tax returns for the Assessment Year 2007-08 for salaried and non-audit business cases is July 31. Income tax centres in parts of the country announced that they had made arrangements to receive "returns" even on the last weekend. The Income Tax Department's website incometaxindiaefiling.gov.in also now allows for the electronic filing of returns. This site offers a 'return preparation software' that is downloadable, and the chance to "e-file your income-tax returns anytime, anywhere", says the department. Varying forms - ITR-1, ITR-2, ITR-3 and ITR-4 -- have been made available to individuals and Hindu undivided families of diverse categories. "In India, the system of direct taxation as it is known today, has been in force in one form or another even from ancient times," says the Income Tax Department, citing examples from the ancient Indian texts of the Manu Smriti and the Arthasashtra. India's Income Tax Department's history began in 1922, with a law being passed to give a specific nomenclature to various tax authorities. In 1924, Central Board of Revenue Act constituted the board as a statutory body with functional responsibilities for the administration of the then new Income Tax Act. World War II brought unusual profits to businessmen, and from 1940 to 1947, Excess Profits Tax and Business Profits Tax were introduced. In 1953, the Indian Revenue Service was constituted. Over the past few years, tax reforms in India have focussed on lowering of tax rates; withdrawing or reducing major incentives; introducing measures for presumptive taxation; simplification of tax laws (particularly on capital gains) and "widening the tax base".