ITR Filing 2026: What happens if you miss July 31 deadline? Here’s what taxpayers must know

ITR Filing 2026: The Income Tax Return filing season for FY 2025-26 (AY 2026-27) is currently underway. July marks significant income tax deadlines for Indian taxpayers. Taxpayers must file their returns on the official Income Tax Department portal. Important upcoming deadlines vary by taxpayer category. The crucial deadline for salaried individuals and pensioners to file their Income Tax Returns (ITR) is July 31, along with numerous other compliance forms.

The deadline of July 31, 2026, is only for salaried individuals, pensioners, and non-business individual investors (including HUFs) whose accounts do not require an audit. This category includes individuals who need to file the ITR-1 (Sahaj) or the ITR-2 form.

The last date to deposit tax deducted at source (TDS) during the April-June 2026 quarter was July 7, provided you have been permitted by the Assessing Officer to make TDS payments every quarter. July 7 was also the due date for the deposit of tax deducted/collected for June 2026.

Let’s quickly explore what will happen if you miss the July 31 deadline. Here’s what taxpayers must know.

As per section 234F, late filing fees of Rs 5000 shall be payable if the return is filed after the due date specified under section 139(1). However, the amount of late ITR filing fees to be paid shall be Rs 1,000, if the total income of the person does not exceed Rs 5 lakh. Rs 5,000 if your total income exceeds Rs 5 lakh.

Simply put, taxpayers with a total income exceeding Rs 5 lakh who file their ITR after the due date but before December 31 will have to pay a maximum late filing fee of Rs 5,000. However, for taxpayers with a total income of up to Rs 5 lakh, the late filing fee is capped at Rs 1,000.

Income Tax Act, 1961: What is last date to file belated return for AY 2026-27?

Pursuant to Section 139(4) of the Income Tax Act, 1961, a belated return for Assessment Year (AY) 2026-27 may be furnished on or before December 31, 2026, or prior to the completion of the assessment, whichever occurs earlier.

The due dates for the income tax return filing this year are July 31 for individual taxpayers, August 31 for non-audit business cases, and October 31 for business cases that require an audit.

The deadline for businesses that require transfer pricing reports (international transactions or specified domestic transactions) is November 30, 2026.

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