ITR Deadline Alert: Only 9 days left—file your income tax return quickly to avoid significant losses.

ITR Filing: The deadline for filing your ITR is July 31. This means you have just 9 days left to complete the filing process. Missing the deadline could result in substantial financial loss.

ITR Filing Deadline: If you receive a monthly salary, are a pensioner, or earn profits from the sale of property or shares, filing an ITR is your responsibility.

The deadline for filing the Income Tax Return (ITR) for Assessment Year 2026-27 (Financial Year 2025-26) is July 31, 2026. There are over 14 crore taxpayers registered on the income tax e-filing portal. As of July 21, 3.15 crore taxpayers have already filed their returns. Others have only 9 days remaining to do so.

Keep this rule in mind

According to income tax regulations, you must provide details of all your active accounts when filing your ITR. These include savings accounts, current accounts, overdraft accounts, cash credit accounts, or Non-Resident Ordinary (NRO) accounts. If you fail to do this and the Income Tax Department later discovers an account that was not disclosed during filing, you could face a penalty of up to ₹10,000 per undisclosed account.

Refunds could get stuck

To receive a tax refund, it is essential that your bank account is pre-validated on the income tax portal. If an issue arises with your primary account, the Income Tax Department can transfer the refund to another account you have validated; however, failing to disclose all accounts could cause the refund to get stuck.

What happens if you miss the deadline?

You can file your income tax return even after the July 31 deadline. Section 139(4) of the Income Tax Act permits the filing of a 'belated return,' though this entails a late fee. If your annual income exceeds ₹5 lakh, the late fee can be up to ₹5,000; if your annual income is ₹5 lakh or less, the late fee is ₹1,000.

Filing ITRs under the old law, not the new one

Despite the enactment of the new Income Tax Act of 2025, people are currently filing their tax returns under the Income Tax Act of 1961. This is because the income currently being reported pertains to the previous year (April 1, 2025, to March 31, 2026). Since that period fell under the ambit of the old law, all regulations of the Income Tax Act of 1961 apply to these returns. The new Income Tax Act of 2025 came into effect on April 1, 2026. The new law will apply to income earned during the current financial year (2026-27); consequently, the ITR filed in July 2027 will be based on the new regulations.