The Income-tax Act, 2025, came into force on April 1, 2026, taxpayers submitting their Income Tax Returns (ITRs) for FY 2025-26 (AY 2026-27) will continue to do so under the Income-tax Act, 1961. The Income Tax Department has actually clarified that the old law will govern returns for FY 2025-26.
When do you require to submit your ITR, can the due date be extended, and what occurs if you miss it?
What is the due date for submitting ITR for FY 2025-26 (AY 2026-27)?
The due date depends upon the taxpayer classification and the ITR type being submitted.
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“For a lot of private taxpayers such as employed staff members and pensioners not needing tax audit, the due date is normally 31 July 2026. The Income Tax Department’s ITR-4 aid page presently discusses 31 August 2026 as the due date for AY 2026-27 for ITR-4 taxpayers,” states Sudhir Kaushik, Co-founder & & CEO, Taxspanner (a Zaggle business).
Taxpayers need to validate the due date suitable to their ITR kind on the Income Tax Department’s e-filing website before submitting their return.
ITR filing due dates for AY 2026-27
Source: N. A. Shah Associates LLP
“The Union Budget 2026 extended the time limitation for submitting modified return from 31 December to 31 March to accommodate modification of initial income tax return and belated income tax return (which, based on the earlier timelines, accompanied 31 December). The proposed change in the Union Budget 2026 applied from 1 March 2026 for AY 2026-27 under the Income-tax Act 1961, and from 1 April 2026 for tax year 2026-27 under the Income-tax Act, 2025,” discusses Amarpal Chadha, Tax Partner, EY India.
Can the ITR filing due date be extended?
As relates to the possibility of extension, as on date, there is no main alert or circular extending the due date for filing income-tax returns for AY 2026-27.
“Historically, the Central Board of Direct Taxes extends due dates just in extraordinary scenarios, such as hold-up in release of return energies, significant portal-related problems, substantial legal modifications, or extensive disturbance impacting taxpayers,” states CA Hitesh Jain, Direct Tax Partner, N. A. Shah Associates LLP.
Unless a main extension is alerted, taxpayers ought to continue on the basis that the statutory due dates will use and need to not wait for an extension.
What are the earnings tax charges for filing ITR after the due date?
If a taxpayer misses out on the due date under Section 139( 1 ), the return can still be submitted as a belated return. For AY 2026-27, the Income Tax Department has actually clarified that a belated return can be submitted as much as 31 December 2026 or before conclusion of evaluation, whichever is previously.
Submitting late can have numerous monetary and tax repercussions.
“The most frequently talked about effect of late filing is the cost under Section 234F of the Income-tax Act. If a taxpayer submits the return after the due date recommended under Section 139( 1 ), a late filing charge of Rs 5,000 is payable where overall earnings goes beyond Rs 5 lakh,” states Jain.
Where overall earnings does not surpass Rs 5 lakh, the cost is limited to Rs. 1,000. This cost remains in addition to any tax and interest payable and is typically calculated at the time of submitting the belated return, he includes.
Rs 5000- for earnings more than Rs 5 lakh
* July 31, 2026 is the due date for trainees, pensioners, employed and other taxpayers who are not needed to perform a tax audit. Generally, those taxpayers submit their ITR on or before July 31 utilizing ITR-1, ITR-2, ITR-3 or ITR-4 type. Other ITR types matter for corporations, trusts, and so on.
ITR-1 (Sahaj) can be submitted by a resident private whose overall earnings does not go beyond Rs 50 lakh throughout the fiscal year and whose earnings sources are fairly basic. This consists of earnings from wage or pension, single home residential or commercial property, and earnings from other sources such as interest earnings (from cost savings accounts, deposits, earnings tax refunds, or boosted settlement) and household pension.
Taxpayers can report farming earnings up to Rs 5,000 and restricted long-lasting capital gains (LTCG) under Section 112A up to Rs 1.25 lakh, offered there are no capital losses to be brought forward. Clubbed earnings of a partner or small can likewise be consisted of, as long as it falls within the allowed earnings classifications.
People with intricate earnings sources, numerous residential or commercial properties, or greater capital gains are not qualified to submit ITR-1.
Interest on overdue tax
In addition to Section 234F, interest under Section 234A might use where there is overdue tax on the due date of filing. Such interest is normally charged at 1% monthly or part of a month on the quantity of unsettled tax, from the due date of submitting the return till the date of real filing, describes Jain.
Taxpayers might likewise deal with interest under Sections 234B and 234C where there is default or deferment in payment of advance tax.
Loss of the right to continue specific losses
According to Jain, another essential repercussion, which is frequently more major than the financial cost, is the loss of the right to continue specific losses. If the return is not submitted within the due date recommended under area 139( 1 ), defined losses such as organization loss, speculation loss, capital loss and loss from owning and preserving racehorses might normally not be enabled to be continued.
This can have a considerable future tax effect, especially for financiers, traders, entrepreneur and experts.
Areas 234G and 271AA
Area 234G is in some cases erroneously described in the context of late filing of ITR. It is not a basic late-return charge.
“Section 234G offers a charge of Rs. 200 each day for default in providing specific declarations or certificates recommended in relation to arrangements such as area 35 or area 80G,” describes Jain.
It matters primarily for defined reporting defaults and is not normally appropriate to an employed specific simply since the ITR is submitted late, he includes.
Area 271AA( 1) is not a regular late-filing charge. “It normally handles failure to keep recommended details and files in regard of worldwide deals or defined domestic deals, especially in transfer rates cases,” states Jain.
Unless the taxpayer is covered by such arrangements, Section 271AA( 1) would not be activated simply due to the fact that the income-tax return is submitted after the due date.