ITR Filing Deadline: If you haven’t filed your income tax return yet, there is some welcome news for you. Only three days remain to file income tax returns for the financial year 2025-26. The deadline for general taxpayers to file their returns is set for July 31, 2026, whereas for certain individuals in the business category (filing ITR-3 and ITR-4), the deadline is August 31, 2026.
If you fail to file your ITR by July 31, you can file a ‘belated return’ by December 31, subject to a penalty. However, you will have to pay a late fee for this. An ITR serves as an official record of your total income, investments, and financial transactions.
Who has been granted extra time?
Under the new arrangement, taxpayers earning income from a business or profession who are not required to undergo a tax audit can now file their ITR by August 31, 2026. This primarily covers eligible taxpayers filing ITR-3 and ITR-4. Additionally, certain trusts will also benefit from this extended deadline.
What is the deadline for salaried individuals?
If you are a salaried employee filing ITR-1 or ITR-2, there is no change for you; such taxpayers must file their returns by July 31, 2026. Filing an ITR after July 31 will attract a late fee.
Why was this change made?
The government states that this change aims to provide more time for non-audit business entities and trusts to prepare their accounts and necessary documents. This is expected to simplify the return-filing process and reduce the last-minute rush.
What happens if there is a delay?
If you miss the deadline applicable to your category and file your ITR subsequently, you may face late fees, interest charges, and the loss of certain tax benefits. How to select the right ITR form?
Choosing the wrong form can result in the return being considered defective.
ITR-1: For those with income from salary, pension, and simple interest.
ITR-2: For those with income from capital gains, more than one house, or foreign assets.
ITR-3: For those engaged in business, freelancing, F&O, or trading.
ITR-4: For small business owners and professionals.
Ensure e-verification after filing the return
Merely submitting the return is not enough. E-verification—using Aadhaar OTP, net banking, a demat account, or a digital signature—is crucial. Failure to do so on time can render the return invalid.
Late fee of up to ₹5,000 applicable after July 31
Taxpayers who file their ITR after July 31 will be liable for a late fee. If an individual taxpayer’s annual income exceeds ₹5 lakh, a late fee of ₹5,000 applies. If the annual income is below ₹5 lakh, the late fee is ₹1,000.