July 31, August 31, or October 31—what is the deadline for filing your ITR? Make sure you don't have the wrong date..

If you have not yet filed your Income Tax Return (ITR) for the financial year 2025-26 (Assessment Year 2026-27), you should not delay any further. For most individual taxpayers, the deadline for filing the ITR is July 31, 2026. Failing to file the return on time can result not only in late fees but also in interest charges, delays in receiving refunds, and the loss of various tax benefits.

What happens if you miss the deadline?
If the ITR is not filed by July 31, taxpayers can file a 'Belated Return' later. However, this comes with certain additional conditions and disadvantages. In such cases, as per Income Tax Department rules, one may incur late fees, interest on outstanding tax, and the loss of specific tax benefits.

What happens after July 31?
If you miss the July 31 deadline, you can file a Belated Return until December 31, 2026. However, you may be required to pay a late fee under income tax laws. If there is any outstanding tax, interest will also be charged on it. Additionally, you will lose the benefit of carrying forward certain types of losses to future years.

What can be done by March 31, 2027?
If you filed your ITR on time but later discovered an error, it can be rectified by filing a 'Revised Return.' The deadline for filing a revised return for Assessment Year 2026-27 is March 31, 2027 (or the completion of the assessment, whichever is earlier). This means that if details regarding income, bank accounts, deductions, or any other information were entered incorrectly, they can be corrected by this date.

What is the deadline for you? The deadlines for filing Income Tax Returns (ITR) for different categories of taxpayers are as follows:

1. 31 July 2026: Salaried individuals, individual taxpayers, and HUFs (not subject to tax audit). They file ITR-1 and ITR-2 forms.
2. 31 August 2026: Taxpayers engaged in business, professions, or presumptive taxation who are not subject to tax audit. They file ITR-3 and ITR-4 forms.
3. 31 October 2026: Business owners or professionals whose accounts are mandatorily subject to tax audit.

What is the fee?
If the ITR is filed after the deadline, a late fee of up to ₹5,000 may be levied under income tax rules. However, this fee may be lower for taxpayers whose total income falls within a specified limit. Additionally, if there is any outstanding tax liability, interest may also be charged separately.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.