Every July, a familiar ritual unfolds: overwhelmed tax portals, late-night CA calls, and a flurry of last-minute ITR submissions. Despite knowing the deadline well in advance, lakhs of Indians delay their filing until the eleventh hour.

So why is last-minute filing such a widespread habit?

Let’s dig into the numbers, the mindset, and what it costs us.

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The Filing Rush: A Recurring Pattern

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Data from the Income Tax Department and media reports confirm this annual pattern. In 2023, over 2 crore ITRs were filed by July 11, with numbers ramping up significantly closer to the deadline. In 2024, the trend continued - more than 2.7 crore returns had been filed by July 14.

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On the final day of filing (July 31, 2024), the e-filing portal recorded a peak load of 5.07 lakh returns per hour, especially between 7-8 PM, according to a statement from the Press Information Bureau.

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This isn’t just a one-off instance, it reflects a deeper and telling trend that has plagued us all at some point, despite multiple reminders, extended help centres, and awareness campaigns.

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Why the Delay?

1. The Fear Factor

Many people associate taxes with complexity, fear of making mistakes or triggering an audit. This anxiety often leads to avoidance.

2. Dependency on Others

Salaried individuals often wait for Form 16 from employers or rely on family accountants, leading to delays beyond their control.

3. Underestimating the Task

Filing is often treated as a “10-minute job,” when in reality, organizing documents, verifying 26AS, and choosing the right tax regime takes time.

4. Lack of Penalty Awareness

While there are late fees, many assume they’ll get a refund anyway, or aren't aware of the consequences.

What It’s Costing Us

Filing taxes late or in a rush can lead to real financial and mental costs:

• Mistakes in income details, deduction claims, or bank account info can lead to notices.
  
  
• Missing documents (like Form 26AS or interest certificates) can result in underreporting.
  
  
• Losing refunds due to errors or delays, especially if banking details aren’t updated.
  
  
• Late fees under Section 234F (up to ₹5,000) if you miss the deadline completely

Plus, for those applying for visas, home loans, or credit cards, timely ITRs are often a critical requirement.

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Changing the Narrative: From Panic to Preparedness

Filing your ITR early comes with real advantages:

• Faster processing and refunds: The earlier you file, the sooner you get your refund.
  
  
• Time for corrections: If something’s missing or inaccurate, you can revise your return in peace.
  
  
• Less stress: You avoid system crashes, last-minute rushes, and dependency on others’ availability.

Early filing also gives you a better understanding of your finances - whether it’s identifying saving opportunities or planning your tax strategy for the year ahead.

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Let This Be the Year You File Early

If you’re someone who usually files on July 30th (or not at all), here’s your cue: start gathering your documents now. Most of what you need: salary slips, Form 16, investment proofs, Form 26AS, and interest statements, should be readily available by early July.

And if the fear of filing is what’s holding you back? There are now more tools than ever, from guided filing platforms to apps to professional help to make it smoother and jargon-free. Instead of joining the late-night rush, this could be the year you shift gears: file early, stay organized, and let your taxes work for you, not against you.

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