ITR Filling 2026: Big news for taxpayers. If you haven’t submitted your Income Tax Return (ITR) yet, you only have six days remaining. The deadline for filing taxes for the financial year 2025-26 is July 31, 2026. Many individuals are hoping for an extension from the government. However, tax experts warn that relying on this possibility could be a mistake. The government has not indicated any plans to extend the deadline, so it’s best to file your return today to avoid any last-minute issues.

 

Technical issues may arise in the final days

 

Every year, in the last two to three days, millions of people access the Income Tax Department’s website at the same time. This surge in traffic can significantly slow down the e-filing portal or even cause it to crash. In such cases, even if everything is prepared, technical problems can delay your return, potentially causing you to miss the deadline.

What penalties will apply after July 31st?

If you fail to file your ITR by July 31st, you will face the following consequences: A late fee of Rs 5,000: If your annual income exceeds Rs 5 lakh, filing your return after July 31st will result in a penalty of Rs 5,000. For those earning less than Rs 5 lakh, the penalty is Rs 1,000. 1% additional interest: If you have any outstanding tax dues, you will incur interest at a rate of 1% per month.

Losses cannot be carried forward: By not filing your returns on time, you will miss the opportunity to offset losses from the stock market or business against profits in the following year.

Delay in refunds: Your tax refund may also be delayed for an extended period due to late filing.

File your return today.

The simplest way to avoid last-minute stress and penalties is to collect your Form 16 and bank statements and file your return today. This will also help ensure that your refund is processed quickly and reaches your bank account without delay.

 

Refund will be given only after ITR verification

Filing your income tax return won’t simply get you a refund. You’ll need to verify your ITR. The Income Tax Department processes your ITR only after it’s verified by the taxpayer. Taxpayers can verify their ITR online, a process known as e-verification.The department matches the information provided in the returns with third-party data, such as the Annual Information Statement (AIS) and Form 26AS. If any discrepancies or excess refund claims are detected, the system flags them. Refunds can also be withheld if there are outstanding taxes or pending assessments from previous years.