For taxpayers not required to get their accounts audited, the deadline to file ITR for income earned in Financial Year (FY) 2025-26 is July 31, 2026.
The deadline applies to individuals whose accounts do not require audit and who are not covered under other categories such as transfer pricing reporting.
While the new Income-tax Act, 2025 came into effect from April 1, 2026, returns for FY 2025-26 (AY 2026-27) continue to be governed by the Income-tax Act, 1961 under the transition framework.
What happens if you miss the July 31 deadline?
If a taxpayer fails to file the return by the due date, they can still file a belated return. However, the late filing comes with certain consequences.
Under Section 234F of the Income-tax Act, 1961, a late filing fee of up to ₹5,000 may apply. For taxpayers whose total income does not exceed ₹5 lakh, the maximum late fee is capped at ₹1,000.
A belated return can be filed until December 31, 2026 for AY 2026-27, unless the government extends the timeline.
Taxpayers may also have to pay interest under Section 234A if there is any tax payable after considering advance tax, TDS and other credits. Interest is charged at 1% per month or part of a month from the due date of filing until the date of filing the return.
Can the July 31 deadline be extended?
There has been no extension announced so far. Any extension of the statutory due date would require a formal order or notification from the Central Board of Direct Taxes (CBDT).
Rahul Charkha, Partner at Economic Laws Practice, a full-service law firm in India, said the filing deadlines under Section 139(1) are statutory timelines and cannot be changed merely through an advisory or communication on the income tax portal.
“An effective extension must rest on a valid statutory power and should be implemented through a formal CBDT order or circular identifying the provision being relaxed, the taxpayers covered, the assessment year concerned and the substituted date,” Charkha said.
He added that Section 119 of the Income-tax Act empowers CBDT to issue orders and directions for proper administration of the law and has been used in the past to provide deadline relaxations in cases of genuine hardship or administrative difficulties.
What if there is a genuine difficulty?
CBDT has earlier extended tax deadlines using powers under Section 119. For instance, extensions have been granted in cases involving audit-related filing deadlines, pandemic-related disruptions and other taxpayer difficulties.
However, taxpayers should not assume that an extension will be announced and should complete filing before July 31 to avoid additional compliance costs.
What about revised returns?
Taxpayers who file their return by the due date get more flexibility to revise it in case of errors or omissions. If the original return is filed late, the ability to revise the return is restricted under the law.
For AY 2026-27, taxpayers should ensure that income details, deductions, bank interest, capital gains and other disclosures are correctly reported before submitting the return.
