Salaried taxpayers and individuals filing ITR-1 or ITR-2 for Assessment Year 2026-27 must submit their income tax returns by July 31, 2026. The Income Tax Department and the Central Board of Direct Taxes (CBDT) have not issued any notification extending this deadline for Financial Year 2025-26, and tax experts have advised taxpayers against waiting for a last-minute extension.

This deadline applies to non-audit individual taxpayers, including salaried employees, pensioners and most HUFs whose accounts do not require a statutory audit. Assessment Year (AY) 2026-27 corresponds to income earned during Financial Year (FY) 2025-26, that is, between April 1, 2025 and March 31, 2026.

Who Must File by July 31

Taxpayers whose income primarily comes from salary, pension, one house property or other simple sources and who are not required to get their accounts audited fall under this July 31 deadline. This covers the vast majority of India’s individual taxpayers who file either ITR-1 or ITR-2.

ITR-1 and ITR-2 Eligibility Explained

ITR-1 (Sahaj) is meant for resident individuals with total income up to Rs 50 lakh, earned mainly through salary, pension, one house property, and other simple sources such as interest income, provided there is no business or professional income. ITR-2 applies to individuals and Hindu Undivided Families (HUFs) who have capital gains, more than one house property, foreign income or assets, or income exceeding the ITR-1 threshold, but who still do not have business or professional income.

Different Deadlines for ITR-3 and ITR-4 Taxpayers

Taxpayers who report business or professional income through ITR-3 or ITR-4 and are not liable for a tax audit have time until August 31, 2026 to file their returns. This includes many freelancers, small business owners and professionals who opt for presumptive taxation.

For entities and individuals whose accounts require a statutory audit, such as larger businesses and certain professionals, the due date extends to October 31, 2026. Taxpayers involved in international or specified domestic transactions that require a transfer pricing report have until November 30, 2026 to file.

E-Verification Is Mandatory After Filing

Filing a return is not the final step. Every taxpayer must e-verify their ITR within the prescribed window, using methods such as Aadhaar OTP, net banking, a bank account electronic verification code, or by sending a signed physical ITR-V by post. An unverified return is treated as not filed, which can affect refunds and the right to carry forward losses.

Late Fee, Interest and Loss Carry-Forward

Missing the July 31 deadline attracts a late fee under Section 234F of the Income-tax Act. Taxpayers with total income above Rs 5 lakh face a fee of up to Rs 5,000, while those with income up to Rs 5 lakh face a reduced fee of up to Rs 1,000. In addition, Section 234A imposes 1 percent simple interest per month, or part of a month, on any unpaid tax liability from the due date until the return is filed.

A belated return also restricts the taxpayer’s ability to carry forward certain losses, such as business losses and capital losses, to future years, though losses from house property remain unaffected.

Belated and Revised Return Deadlines

Taxpayers who miss the original due date can still file a belated return, but only until December 31, 2026. Similarly, anyone who needs to correct a mistake in an already-filed return can submit a revised return up to March 31, 2027. Beyond these dates, taxpayers may use the updated return (ITR-U) facility, available for up to 24 months from the end of the relevant assessment year, though it comes with an additional 25 to 50 percent tax burden depending on when it is filed.

Filing Facilities on the Income Tax Portal

The Income Tax Department’s e-filing portal offers pre-filled ITR forms populated from Form 26AS, the Annual Information Statement (AIS) and TDS records, making it easier for taxpayers to cross-check their income details before submission. The department has also extended helpline support hours in the final week of July to assist taxpayers rushing to meet the deadline.

Beware of Fake Deadline-Extension Messages

Every year, unverified messages claiming a deadline extension circulate on social media and messaging platforms close to July 31. Taxpayers should treat any such claim as unconfirmed unless it is backed by an official CBDT circular or a post from the Income Tax Department’s verified social media handles. As of now, no extension notification has been issued for AY 2026-27.

Basic Filing Checklist

Reconcile income details with Form 16, Form 26AS and AIS

Collect proofs for deductions under Section 80C to 80U and other exemptions

Select the correct ITR form and confirm Assessment Year 2026-27

Cross-check bank interest, dividend and capital gains entries before submission

Submit the return and complete e-verification within the stipulated time

Why It Matters

With crores of taxpayers expected to file returns this season, timely compliance helps avoid penalties, protects refund claims and preserves the right to carry forward losses. Given that no extension has been notified so far, taxpayers eligible for ITR-1 or ITR-2 should treat July 31 as a firm deadline.

Disclaimer: This article is for general informational purposes only and does not constitute tax or financial advice. Taxpayers should consult a qualified chartered accountant or tax professional for guidance specific to their situation, and verify all deadlines on the official Income Tax Department portal before filing.