The deadline to file Income Tax Returns (ITRs) for Assessment Year (AY) 2026-27 is July 31, 2026, for individuals whose accounts are not required to be audited. Taxpayers who have not yet filed their returns should complete the process before the due date to avoid additional compliance costs.
Missing the deadline does not prevent taxpayers from filing their returns, but it can result in a late filing fee, interest on outstanding tax liability and certain restrictions under the Income-tax Act.
Taxpayers who fail to file their ITR by July 31, 2026, can still submit a belated return.
However, the following consequences may apply:
A late filing fee of up to ₹5,000 under Section 234F of the Income-tax Act, 1961.
For taxpayers with a total income of up to ₹5 lakh, the maximum late fee is ₹1,000.
If tax remains payable after adjusting advance tax, TDS and other eligible credits, interest under Section 234A may also apply at 1% per month or part of a month until the return is filed.
A belated return for AY 2026-27 can be filed until December 31, 2026, unless the government announces a change in the timeline.
Read More: ITR Filing Deadline 2026: Is the Last Date July 31 or August 31? Here's Who Must File by When
Taxpayers who file their returns on time generally have greater flexibility to correct errors or omissions. Filing after the due date may limit the ability to revise the return under the applicable provisions.
Before submitting the return, taxpayers should verify details such as income, deductions, bank interest, capital gains, and other mandatory disclosures to minimise the need for corrections later.
With the July 31, 2026, deadline approaching, eligible taxpayers should file their ITR for AY 2026-27 on time to avoid late fees, interest and additional compliance requirements. Although a belated return can be filed until December 31, 2026, timely filing helps ensure a smoother tax compliance process.
Read stock market news in Hindi. Head to Angel One's share market news in Hindi for comprehensive coverage.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jul 30, 2026, 12:58 PM IST
Rakesh Deshmukh
Rakesh Deshmukh is a financial content specialist with around 3 years of experience writing impactful content across equities, mutual funds, IPOs, and personal finance. At Angel One, he decodes real-time market trends and breaking news, helping investors and traders stay updated. He also helps investors make informed decisions by simplifying market fundamentals and technical analysis. He holds a bachelor’s degree in commerce.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
EN