ITR Deadline Alert: ITR deadline is just 4 days away, difficulty will increase every day after July 31, know the complete rules

Business Desk – ITR Deadline Alert: The last date for filing Income Tax Return (ITR) for assessment year 2026-27, 31 July 2026, is now very close. Taxpayers now have only 4 days left. Tax experts say that waiting till the last minute can be costly, because due to increase in traffic on the e-filing portal, the server may become slow or there may be technical problems.

According to the Income Tax Department, more than 4.10 crore ITRs have been filed till July 26, 2026. Out of these, e-verification of 3.85 crore returns has also been completed.

ITR can be filled even after July 31, but…

If you miss the July 31 deadline, ITR can still be filed. This is called belated ITR. Belated returns for assessment year 2026-27 can be filed till 31 December 2026. However, this may come with penalties, interest and loss of many tax benefits.

How much penalty will be imposed on late filing of ITR?

Under Section 234F of the Income Tax Act, late fees have to be paid for filing returns after the stipulated time.

Fine of Rs 5,000 if income exceeds Rs 5 lakh.
Late fee of Rs 1,000 for income up to Rs 5 lakh.
If your income is below the basic tax exemption limit and filing of ITR was not mandatory, then no late fee will be charged.

Interest will have to be paid on outstanding tax

If any of your taxes remain outstanding till July 31, then 1% interest will have to be paid for every month or part thereof under Section 234A of the Income Tax Act. This interest will continue to accrue until both tax and return are deposited.

You will not get any benefit from the loss

If you have suffered loss in stock market, capital gain or business and you want to carry forward it from future income, then it is important to file ITR on time. This facility may end if the deadline is missed.

There will be delay in getting tax refund

If excess TDS has been deducted on your salary or other income and you are entitled to a refund, late filing of ITR will also delay getting the refund. The sooner the return is filed and e-verified, the sooner the refund will come to the bank account.

Which deadline for whom?

July 31, 2026: Salaried employees, ITR-1 and ITR-2 filers and taxpayers with LTCG up to Rs 1.25 lakh.

31 August 2026: Businessmen and professionals whose accounts are not required to be tax audited (ITR-3 and ITR-4).

30 September 2026: Last date for submission of tax audit report.

31 October 2026: Taxpayers whose accounts are subject to mandatory tax audit.

don’t wait until the last minute

Tax experts advise that instead of waiting for the last date, file ITR as soon as possible. This will avoid technical problems, you will not have to pay late fees and interest, and you will also be able to get tax refund on time.