ITR Filing Deadlines for FY26 Vary by Taxpayer Status
Income Tax Return Filing Season: Key Dates and Consequences
With the income tax return filing season underway, taxpayers need to keep a close eye on deadlines. While most salaried individuals must file their returns by July 31, 2026, missing the deadline does not mean the opportunity is lost.
The Income Tax Act allows taxpayers to file belated and updated returns, albeit with additional costs such as interest and late filing fees. Due dates for filing Income Tax Returns (ITRs) vary by taxpayer category and income type. Salaried individuals will continue to have the earliest filing deadline, while businesses and audit cases will get additional time.
| Taxpayer Category | Due Date for Filing ITR |
|---|---|
| Salaried Individuals | July 31, 2026 |
| Non-audit Business Cases or Trusts | August 31, 2026 |
| Individuals Earning Income from Futures and Options (F&O) Trading | August 31, 2026 |
The extension for non-audit business cases or trusts is mainly because income from F&O trading is treated as business income under the Income Tax Act. Taxpayers can file their Income Tax Return (ITR) even after missing the original due date. If the return is not filed within the prescribed deadline, a belated return can be submitted up to December 31 of the relevant assessment year.
For FY 2025–26 (AY 2026–27), the due date for filing a belated return is December 31, 2026. Taxpayers who fail to file both the original and belated returns still have the option to submit an updated return. An updated return can be filed within 48 months, or four years, from the end of the relevant assessment year. Accordingly, for FY 2025–26 (AY 2026-27), the updated return filing deadline is March 31, 2031.
Taxpayers who file their Income Tax Return (ITR) after the due date may have to pay interest under Section 234A of the Income Tax Act. The interest is charged at the rate of 1 percent per month or part of a month on the outstanding tax amount until the payment is made. Apart from interest, late filing also attracts a penalty under Section 234F.
| Income Category | Late Filing Fee |
|---|---|
| Total Income Exceeding Rs 5 Lakh | Rs. 5,000 |
| Total Income Up to Rs 5 Lakh | Rs. 1,000 |
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