ITR filing Last Date FY 2025-26 AY 2026-27 I ITR filing Due date AY 2026-27
ITR filing Last Date FY 2025-26 AY 2026-27 I ITR filing Due date AY 2026-27
For AY 2026-27 (Financial Year 2025-26), the standard ITR filing due date for salaried individuals is 31 July 2026, but a new tiered system introduced in Budget 2026 has extended deadlines for other non-audit categories.
Original Return Deadlines (Section 139(1))
- 31 July 2026: Salaried individuals, pensioners, and non-audit taxpayers filing ITR-1 or ITR-2.
- 31 August 2026: Non-audit businesses, professionals, and trusts filing ITR-3 or ITR-4.
- 31 October 2026: All taxpayers whose accounts require a tax audit (e.g., companies or large businesses).
- 30 November 2026: Taxpayers required to furnish reports for international or specified domestic transactions (Transfer Pricing).
Late & Revised Returns
- Belated Return (Section 139(4)): If you miss your original deadline, you can still file until 31 December 2026, subject to a late fee of up to ₹5,000.
- Revised Return (Section 139(5)): To correct errors in an earlier filing, the deadline has been extended to 31 March 2027.
- Updated Return (ITR-U): For missed returns beyond the standard windows, you have until 31 March 2031 (48 months from the end of the assessment year).
Penalties for Late Filing
If you file after your original due date, a late filing fee under Section 234F will apply:
- ₹1,000: If your total income does not exceed ₹5 lakh.
- ₹5,000: If your total income exceeds ₹5 lakh.
- Interest: Charged at 1% per month on any unpaid tax amount under Section 234A.
Note on Transition: While the Income Tax Act 2025 is now in effect, the returns for AY 2026-27 (for income earned in FY 2025-26) are still governed by the provisions of the Income Tax Act, 1961.
Example on ITR filing Last Date FY 2025-26 AY 2026-27 : Salary and Interest Income
Example on ITR filing Last Date FY 2025-26 AY 2026-27 if person have salary income of Rs 7 Lakh (after Standard Deduction of Rs 50000 Lakh) and FD interest income of Rs 3 Lakh
For an individual with a salary of ₹7 lakh and Fixed Deposit (FD) interest of ₹3 lakh (Total Income: ₹10 lakh) for FY 2025-26, the primary filing deadline is 31st July 2026.
Since this person has no business income and does not require an audit, they would typically file ITR-1 or ITR-2.
Key Deadlines for your Example (AY 2026-27)
- 31st July 2026: Last date to file without any penalty.
- 31st December 2026: Last date to file a Belated Return (if the July deadline is missed).
- 31st March 2027: Last date to file a Revised Return to correct errors in the original filing.
Financial Impact of Missing the Deadline
If the return is filed after 31st July 2026 but on or before 31st December 2026, the following applies:
- Late Filing Fee (Section 234F): A penalty of ₹5,000 is mandatory because the total income (₹10 lakh) exceeds ₹5 lakh.
- Interest (Section 234A): 1% interest per month on the unpaid tax amount, calculated from 1st August 2026 until the date of filing.
- Tax Regime Restriction: Filing late generally means you cannot opt for the Old Tax Regime and will be mandatorily taxed under the New Tax Regime.
Estimated Income Tax Summary
For a total income of ₹10,00,000, here is how it would be treated under the New Tax Regime (default for AY 2026-27):
- Exemption: Income up to ₹4,00,000 is tax-free.
- Tax Rebate: Under Section 87A, residents with total income up to ₹12 lakh effectively pay zero tax after rebates.
- Important Note: Even if your final tax liability is zero due to rebates, you must file the return by 31st July 2026 to avoid the ₹5,000 late fee.
Example on ITR filing Last Date FY 2025-26 AY 2026-27 : Interest Income and Business Income
Example on ITR filing Last Date FY 2025-26 AY 2026-27 : FD Interest Rs 3 Lakh and Business Income Rs 5 Lakh
For an individual with Business Income of ₹5 lakh and FD Interest of ₹3 lakh (Total Income: ₹8 lakh) in FY 2025-26, the primary filing deadline is 31 August 2026.
Effective from this assessment year (AY 2026-27), the deadline for non-audit business cases (ITR-3 and ITR-4) has been extended to August 31 to distinguish it from the July 31 deadline for salaried individuals.
Key Deadlines (AY 2026-27)
- 31 August 2026: Last date to file the original return without a late fee.
- 31 December 2026: Last date to file a Belated Return (if the August deadline is missed).
- 31 March 2027: Last date to file a Revised Return to fix any errors in your initial filing.
Filing Details for your Case
- ITR Form: You would likely use ITR-4 (Sugam) if opting for the Presumptive Taxation Scheme (Section 44AD), or ITR-3 for regular business reporting.
- Late Fee: If you file after 31 August but on or before 31 December 2026, a mandatory late fee of ₹5,000 applies because your total income (₹8 lakh) exceeds ₹5 lakh.
- Audit Requirement: No tax audit is required here as your turnover is well below the mandatory threshold of ₹1 crore (or ₹10 crore for 95%+ digital transactions).
Tax Impact Summary
Under the default New Tax Regime for AY 2026-27:
- Tax-Free Limit: Income up to ₹4 lakh is exempt.
- Section 87A Rebate: You will likely pay zero tax because the rebate for resident individuals has been extended to cover incomes up to ₹12 lakh.
- Note: Even with zero tax liability, filing by the 31 August deadline is essential to avoid the ₹5,000 late filing penalty.
Example on ITR filing Last Date FY 2025-26 AY 2026-27 : Business Turnover Liable for Tax audit and Interest Income
Example on ITR filing Last Date FY 2025-26 AY 2026-27 : Business turnover above Rs 2 crore and liable for Tax Audit, Business Net Profit Rs 4 Lakh and FD Interest Income Rs 3 Lakh
For an individual with a business turnover above ₹2 crore and a mandatory tax audit in FY 2025-26 (AY 2026-27), the primary filing deadline is 31st October 2026.
Because the turnover exceeds the presumptive taxation limit of ₹2 crore (unless 95% of transactions are digital, which extends the limit to ₹3 crore), the taxpayer must undergo a mandatory tax audit under Section 44AB.
Critical Deadlines for Audit Cases
- 30th September 2026: Deadline for a Chartered Accountant (CA) to submit the Tax Audit Report (Form 3CA/3CB and 3CD).
- 31st October 2026: Last date to file the Income Tax Return (ITR).
- 31st December 2026: Last date to file a Belated Return (with penalty) or a Revised Return to correct errors.
- 31st March 2027: Extended deadline for Revised Returns as per Budget 2026 updates, subject to a nominal fee if filed after December.
Filing Details for your Example
- ITR Form: You must use ITR-3 because you have business income and your accounts are audited.
- Total Income: Your total income for tax calculation is ₹7 lakh (₹4 lakh Net Profit + ₹3 lakh FD Interest).
- Late Filing Penalty: If the return is filed after 31st October 2026, a mandatory ₹5,000 fee applies under Section 234F because the total income exceeds ₹5 lakh.
- Audit Delay Penalty: Failure to furnish the audit report by 30th September can lead to a penalty of 0.5% of turnover or ₹1.5 lakh, whichever is lower.
Estimated Tax Summary (New Tax Regime)
For a total income of ₹7,00,000:
- Tax Liability: Under the default New Tax Regime for AY 2026-27, income up to ₹12 lakh is effectively tax-free due to the Section 87A rebate.
- Requirement: Filing is still mandatory because the business turnover (₹2 crore+) exceeds the basic exemption limit and requires an audit.
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