Summary of this article
ITR deadline ends today; taxpayers should file returns before due date.
Missing deadline may attract late fees, interest, and loss carry-forward issues.
Verify documents like Form 16, AIS before submitting income tax returns.
The deadline for filing Income Tax Returns (ITRs) for Assessment Year (AY) 2026-27 falls today, July 31. Taxpayers who are yet to file ITR-1 or ITR-2 can do so through the Income Tax Department’s e-filing portal.
Here’s What the Tax Department Says
Ahead of the deadline, the Income Tax Department issued a reminder to taxpayers through a post on X, using a cricket analogy to encourage timely filing. In the post, the department said, “Missing the ITR deadline is like getting ‘hit wicket’—completely avoidable.” It added, “Avoid late fees and interest, turn your ITR filing into a free hit by filing early.”
The department also asked eligible taxpayers to reconcile their details and file ITR-1 or ITR-2 by the due date.
Separately, the Income Tax Department said that more than 5 crore Income Tax Returns (ITRs) for Assessment Year (AY) 2026-27 had been filed as of July 29. It added that over 30 lakh ITRs were filed on July 28.
What Happens If You Miss The ITR Deadline
While several taxpayers may have completed their Income Tax Return (ITR) filings ahead of the deadline, those who are unable to file by July 31 can still submit a belated return under Section 139(4) of the Income Tax Act. However, filing after the due date may have certain implications, which include additional charges and other consequences depending on the taxpayer’s situation.
CA Nishant Shanker, Tax Controversy & Dispute Resolution, Navraj Global Advisors, highlighted that missing the ITR filing deadline can have financial consequences beyond the late filing fee. He said, “Taxpayers may have to pay a fee of up to Rs 5,000 along with interest on any unpaid tax liability.”
He added that missing the deadline may also affect the ability to carry forward certain losses, including business losses and capital losses, which could increase the tax liability in future years.
Things Taxpayers Should Keep In Mind
Those filing their returns on the deadline day should complete the process promptly to avoid potential last-minute technical issues, glitches, or compliance-related complications.
Before submitting their returns, taxpayers should ensure that all income details, deductions and other information are accurately reported. They should also verify key documents such as Form 16, Form 26AS and the Annual Information Statement (AIS) to avoid issues.
