Over 5 crore ITRs filed: Expert explains how timely filing of tax returns can boost home loan and credit card prospects

Over 5 crore ITRs have been filed for AY 2026-27 as of 29 July, with the filing deadline of 31 July approaching.

Filing ITR on time helps build a consistent tax compliance record, which may support future home loan applications.

Timely filing also helps credit card issuers assess an individual's income stability and repayment capacity.

The Income Tax Department urged eligible taxpayers to avoid last-minute rush and file ITR-1 and ITR-2 by 31 July.

As of 29 July, over 4.69 crore returns have been e-verified, and over 2.33 crore have been processed.