As the deadline to file income tax returns for FY 2025-26 nears, which is July 31, several salaried taxpayers are concerned about how to file it if the Form 16 is delayed. This is particularly the case for those employees who switched jobs during the financial year and have not yet received all details regarding their salary from their employers. While Form 16 provides an essential summary of salary income and tax deducted at source (TDS), it is not mandatory for filing an ITR.Taxpayers can still file their return without having to wait for Form 16. This can be done by using their salary slips, bank statements, Form 26AS and the Annual Information Statement (AIS) to calculate their income and complete the filing process.<h2>Documents required to file an ITR without Form 16:</h2>Before filing your return, keep all important documents ready to avoid mistakes. These include:<ul><li>Salary slips for FY 2025-26</li><li>Bank statements showing salary credits</li><li>Form 26AS to verify TDS deposited by the employer</li><li>Annual Information Statement (AIS) to check reported income</li><li>Bank or post office interest certificates</li><li>Proof of deductions and exemptions like documents relating to EPF, PPF, ELSS investments, NPS contributions, health insurance premiums, life insurance payments, home loan interest and rent receipts</li></ul><h2>How to file an ITR without Form 16:</h2><h3>Step 1: Calculate your total salary income</h3>Start by calculating your total salary earned during FY 2025-26 using your monthly salary slips. If you do not have all salary slips, check your bank statements to identify salary credits. Match these details with deductions such as provident fund contributions, professional tax and TDS.Employees who changed jobs during the financial year must include salary received from all employers while calculating their annual income.<h3>Step 2: Choose the correct tax regime</h3>Your tax calculation will depend on whether you choose the old or new tax regime.Under the old tax regime, taxpayers can claim several exemptions and deductions, including HRA, LTA and deductions under sections such as 80C, 80D and 80G, subject to eligibility.Under the new tax regime, most exemptions and deductions are not available. However, taxpayers can claim the standard deduction as applicable.Compare both regimes before filing to decide which one offers a lower tax liability.<h3>Step 3: Report all sources of income</h3>Salary is not the only income that needs to be reported in an ITR.Taxpayers must disclose income from other sources, including:<ul><li>Savings account interest</li><li>Fixed deposit interest</li><li>Dividend income</li><li>Rental income</li></ul>Cross-check these details with AIS and bank statements to ensure there are no missing entries.<h3>Step 4: Verify TDS details</h3>Before claiming TDS credit, compare the tax deducted from your salary with the details available in Form 26AS.If TDS is deducted by the employer but does not appear in Form 26AS, taxpayers should not claim the credit until the issue is corrected. The employer will have to file a revised TDS return to update the details.<h3>Step 5: Check pre-filled details on the income tax portal</h3>The income tax e-filing portal automatically fills several details based on information available with the department.Before submitting the return, carefully check:<ul><li>Salary details</li><li>TDS information</li><li>Bank account details</li><li>Interest income</li><li>Deductions claimed</li><li>Personal information</li></ul>Make corrections wherever required.<h3>Step 6: File the correct ITR form and complete verification</h3>Salaried taxpayers with simple income sources can generally file ITR-1 if their total income is up to ₹50 lakh.However, taxpayers with business or professional income, certain capital gains, or income from multiple house properties may need to use another ITR form.After filing the return, complete e-verification by July 31. An ITR that is not verified within the required period is considered invalid, even if it has been successfully submitted.

With the ITR filing deadline nearing, many salaried taxpayers may still be waiting for Form 16. Here are key things to know before submitting your income tax return on time.

As the deadline to file income tax returns for FY 2025-26 nears, which is July 31, several salaried taxpayers are concerned about how to file it if the Form 16 is delayed. This is particularly the case for those employees who switched jobs during the financial year and have not yet received all details regarding their salary from their employers. While Form 16 provides an essential summary of salary income and tax deducted at source (TDS), it is not mandatory for filing an ITR. Taxpayers can still file their return without having to wait for Form 16. This can be done by using their salary slips, bank statements, Form 26AS and the Annual Information Statement (AIS) to calculate their income and complete the filing process. Documents required to file an ITR without Form 16: Before filing your return, keep all important documents ready to avoid mistakes. These include: Salary slips for FY 2025-26 Bank statements showing salary credits Form 26AS to verify TDS deposited by the employer Annual Information Statement (AIS) to check reported income Bank or post office interest certificates Proof of deductions and exemptions like documents relating to EPF, PPF, ELSS investments, NPS contributions, health insurance premiums, life insurance payments, home loan interest and rent receipts How to file an ITR without Form 16: Step 1: Calculate your total salary income Start by calculating your total salary earned during FY 2025-26 using your monthly salary slips. If you do not have all salary slips, check your bank statements to identify salary credits. Match these details with deductions such as provident fund contributions, professional tax and TDS. Employees who changed jobs during the financial year must include salary received from all employers while calculating their annual income. Step 2: Choose the correct tax regime Your tax calculation will depend on whether you choose the old or new tax regime. Under the old tax regime, taxpayers can claim several exemptions and deductions, including HRA, LTA and deductions under sections such as 80C, 80D and 80G, subject to eligibility. Under the new tax regime, most exemptions and deductions are not available. However, taxpayers can claim the standard deduction as applicable. Compare both regimes before filing to decide which one offers a lower tax liability. Step 3: Report all sources of income Salary is not the only income that needs to be reported in an ITR. Taxpayers must disclose income from other sources, including: Savings account interest Fixed deposit interest Dividend income Rental income Cross-check these details with AIS and bank statements to ensure there are no missing entries. Step 4: Verify TDS details Before claiming TDS credit, compare the tax deducted from your salary with the details available in Form 26AS. If TDS is deducted by the employer but does not appear in Form 26AS, taxpayers should not claim the credit until the issue is corrected. The employer will have to file a revised TDS return to update the details. Step 5: Check pre-filled details on the income tax portal The income tax e-filing portal automatically fills several details based on information available with the department. Before submitting the return, carefully check: Salary details TDS information Bank account details Interest income Deductions claimed Personal information Make corrections wherever required. Step 6: File the correct ITR form and complete verification Salaried taxpayers with simple income sources can generally file ITR-1 if their total income is up to ₹50 lakh. However, taxpayers with business or professional income, certain capital gains, or income from multiple house properties may need to use another ITR form. After filing the return, complete e-verification by July 31. An ITR that is not verified within the required period is considered invalid, even if it has been successfully submitted.

With the ITR filing deadline nearing, many salaried taxpayers may still be waiting for Form 16. Here are key things to know before submitting your income tax return on time.

ITR filing without Form 16? Here’s how salaried taxpayers can submit returns before July 31 deadline

With just two days left before the July 31 income tax return (ITR) deadline, many taxpayers are still stuck on one question: Should you file under the old tax regime or the new one? It's a decision that can directly affect how much tax you pay, and unlike previous years, the answer isn't the same for everyone. With the July 31 deadline fast approaching, taking a few extra minutes to compare both regimes could save you money and prevent an expensive filing mistake.Notably, the new tax regime is now the default option. But that doesn't automatically mean it's the better choice. Here's a last-minute guide to help you decide before you hit "Submit".Also read | <a href="https://www.wionews.com/india-news/india-income-tax-return-2026-filing-itr-this-year-here-s-how-ai-could-save-or-sink-your-return-1783653826947">India Income Tax Return 2026: Filing ITR this year? Here's how AI could save, or sink, your return</a><h2>New regime vs old regime: The biggest differences</h2>The choice boils down to a simple trade-off.The old tax regime lets you reduce your taxable income by claiming deductions and exemptions. These include popular benefits such as Section 80C investments, health insurance under Section 80D, home loan interest, HRA and Leave Travel Allowance (LTA).The new tax regime, on the other hand, offers lower tax rates but removes most of these exemptions and deductions.So the question isn't which regime has lower tax rates. It's whether your deductions are large enough to make the old regime worthwhile.<h2>The old regime may work better for you if...</h2>You could save more tax under the old regime if you:<ul><li>Claim the full Section 80C deduction through EPF, PPF, ELSS or life insurance</li><li>Pay significant health insurance premiums</li><li>Receive House Rent Allowance (HRA)</li><li>Have a home loan with substantial interest payments</li><li>Regularly claim deductions under multiple sections of the Income Tax Act</li></ul>For many salaried employees who maximise these benefits every year, the old regime can still result in a lower tax bill.Also read | <a href="https://www.wionews.com/trending/itr-last-date-2026-what-happens-if-you-miss-deadline-know-about-late-fees-interest-delayed-refunds-1785137854083">ITR last date 2026: What happens if you miss deadline?</a><h2>The new regime may suit you if...</h2>The new regime is often the simpler choice if you:<ul><li>Don't claim many deductions</li><li>Have recently started working</li><li>Don't have a home loan</li><li>Live in your own house or don't receive HRA</li><li>Prefer straightforward tax filing without maintaining investment proofs</li></ul>Many young professionals fall into this category, making the new regime financially attractive as well as easier to manage.<h2>Can't I just use the same tax regime I used last year?</h2>One of the biggest mistakes taxpayers make is assuming the same regime that worked last year will also work this year. A salary hike, a new home loan, changes in investments, or even switching jobs can alter the calculation significantly.If your employer already deducted TDS under one regime, don't panic. While filing your return, you can still choose the regime you're eligible for, subject to the applicable tax rules.<h2>A few things to check before filing</h2>Before submitting your ITR, make sure you have:<ul><li>Verified your Annual Information Statement (AIS) and Form 26AS</li><li>Checked that salary, bank interest and capital gains are correctly reflected</li><li>Claimed all eligible deductions, if opting for the old regime</li><li>Selected the correct tax regime before filing</li><li>E-verified your return after submission</li></ul><h2>The bottom line</h2>There's no universal winner in the old-versus-new tax debate. To sum it up, if you've spent the year investing, paying insurance premiums or servicing a home loan, the old regime may still leave you with a lower tax outgo. If you have few deductions and want a hassle-free filing experience, the new regime could be the better option.

With the July 31 income tax return deadline approaching, taxpayers need to decide whether to file under the old or new tax regime. Here's a last-minute comparison before you submit your 2026 ITR.

With just two days left before the July 31 income tax return (ITR) deadline, many taxpayers are still stuck on one question: Should you file under the old tax regime or the new one? It's a decision that can directly affect how much tax you pay, and unlike previous years, the answer isn't the same for everyone. With the July 31 deadline fast approaching, taking a few extra minutes to compare both regimes could save you money and prevent an expensive filing mistake. Notably, the new tax regime is now the default option. But that doesn't automatically mean it's the better choice. Here's a last-minute guide to help you decide before you hit "Submit". Also read | India Income Tax Return 2026: Filing ITR this year? Here's how AI could save, or sink, your return New regime vs old regime: The biggest differences The choice boils down to a simple trade-off. The old tax regime lets you reduce your taxable income by claiming deductions and exemptions. These include popular benefits such as Section 80C investments, health insurance under Section 80D, home loan interest, HRA and Leave Travel Allowance (LTA). The new tax regime, on the other hand, offers lower tax rates but removes most of these exemptions and deductions. So the question isn't which regime has lower tax rates. It's whether your deductions are large enough to make the old regime worthwhile. The old regime may work better for you if... You could save more tax under the old regime if you: Claim the full Section 80C deduction through EPF, PPF, ELSS or life insurance Pay significant health insurance premiums Receive House Rent Allowance (HRA) Have a home loan with substantial interest payments Regularly claim deductions under multiple sections of the Income Tax Act For many salaried employees who maximise these benefits every year, the old regime can still result in a lower tax bill. Also read | ITR last date 2026: What happens if you miss deadline? The new regime may suit you if... The new regime is often the simpler choice if you: Don't claim many deductions Have recently started working Don't have a home loan Live in your own house or don't receive HRA Prefer straightforward tax filing without maintaining investment proofs Many young professionals fall into this category, making the new regime financially attractive as well as easier to manage. Can't I just use the same tax regime I used last year? One of the biggest mistakes taxpayers make is assuming the same regime that worked last year will also work this year. A salary hike, a new home loan, changes in investments, or even switching jobs can alter the calculation significantly. If your employer already deducted TDS under one regime, don't panic. While filing your return, you can still choose the regime you're eligible for, subject to the applicable tax rules. A few things to check before filing Before submitting your ITR, make sure you have: Verified your Annual Information Statement (AIS) and Form 26AS Checked that salary, bank interest and capital gains are correctly reflected Claimed all eligible deductions, if opting for the old regime Selected the correct tax regime before filing E-verified your return after submission The bottom line There's no universal winner in the old-versus-new tax debate. To sum it up, if you've spent the year investing, paying insurance premiums or servicing a home loan, the old regime may still leave you with a lower tax outgo. If you have few deductions and want a hassle-free filing experience, the new regime could be the better option.

With the July 31 income tax return deadline approaching, taxpayers need to decide whether to file under the old or new tax regime. Here's a last-minute comparison before you submit your 2026 ITR.

ITR deadline is July 31. Still haven't filed? Here's how to pick the right tax regime before it's too late

The deadline to file the Income Tax Returns (ITR) is 31 July 2026, just a few days away. Till now, over 3 crore ITRs have been filed, highlighting a growing awareness and a strong shift towards early compliance. As the last day approaches, several taxpayers are scrambling to finish their filings and avoid hefty late fees and penalties. However, despite these encouraging trends in tax compliance, experts warn that those who haven't yet filed shouldn't put it off any longer, since missing the deadline can trigger financial and procedural repercussions down the line, &nbsp;including added costs, delayed refunds, and complications with certain tax benefits.&nbsp;Also read: <a href="https://www.wionews.com/trending/hidden-in-british-archives-scientists-decode-200-year-old-indian-scroll-that-helped-sailors-cross-one-of-the-world-s-toughest-seas-1784965526693">Hidden in British archives: Scientists decode 200-year-old Indian scroll that helped sailors cross one of the world's toughest seas</a><h3>Here are some of the key consequences of missing the deadline:</h3><h2>Late filing fee</h2>If you don’t file your ITR by the notified due date, you may need to pay a late fee, as per the Income-tax Act, but only if the relevant conditions and limits apply in your case. And this isn’t some “instead of” thing. It comes along with whatever tax you already owe, so filing later doesn’t magically erase it.<h3>Interest on unpaid tax</h3>If any self-assessment tax is still pending after the due date, interest can keep stacking up until the unpaid part is finally cleared. Even if it looks small at first, the total interest amount can become more noticeable later on.<h3>Delay in receiving your refund</h3>For many salaried individuals, TDS is deducted during the year, so the refund is basically “your money back”. But you can only claim that back properly by filing the Income Tax Return. So if you delay the ITR, the refund also tends to get pushed back. Instead of getting the refund in a few weeks, you may end up waiting much longer, just because the return went in late.<h3>Trouble with carrying forward losses</h3>If you had eligible business losses or certain capital losses in the financial year, then timely filing may be important to carry them forward, so you can set them off in future years, subject to the Income-tax Act rules. Missing the deadline can mean you lose chances that could have helped reduce taxes later.

ITR have been filed by over 3 crore people till now, and more people are rushing to complete it. Experts warn late filers face fees, mounting interest, delayed refunds, and loss of the ability to carry forward business or capital losses for future tax benefits.

The deadline to file the Income Tax Returns (ITR) is 31 July 2026, just a few days away. Till now, over 3 crore ITRs have been filed, highlighting a growing awareness and a strong shift towards early compliance. As the last day approaches, several taxpayers are scrambling to finish their filings and avoid hefty late fees and penalties. However, despite these encouraging trends in tax compliance, experts warn that those who haven't yet filed shouldn't put it off any longer, since missing the deadline can trigger financial and procedural repercussions down the line, including added costs, delayed refunds, and complications with certain tax benefits. Also read: Hidden in British archives: Scientists decode 200-year-old Indian scroll that helped sailors cross one of the world's toughest seas Here are some of the key consequences of missing the deadline: Late filing fee If you don’t file your ITR by the notified due date, you may need to pay a late fee, as per the Income-tax Act, but only if the relevant conditions and limits apply in your case. And this isn’t some “instead of” thing. It comes along with whatever tax you already owe, so filing later doesn’t magically erase it. Interest on unpaid tax If any self-assessment tax is still pending after the due date, interest can keep stacking up until the unpaid part is finally cleared. Even if it looks small at first, the total interest amount can become more noticeable later on. Delay in receiving your refund For many salaried individuals, TDS is deducted during the year, so the refund is basically “your money back”. But you can only claim that back properly by filing the Income Tax Return. So if you delay the ITR, the refund also tends to get pushed back. Instead of getting the refund in a few weeks, you may end up waiting much longer, just because the return went in late. Trouble with carrying forward losses If you had eligible business losses or certain capital losses in the financial year, then timely filing may be important to carry them forward, so you can set them off in future years, subject to the Income-tax Act rules. Missing the deadline can mean you lose chances that could have helped reduce taxes later.

ITR have been filed by over 3 crore people till now, and more people are rushing to complete it. Experts warn late filers face fees, mounting interest, delayed refunds, and loss of the ability to carry forward business or capital losses for future tax benefits.

ITR last date 2026: What happens if you miss deadline? Know about late fees, interest, delayed refunds

India's Black Money Act is one of the most unforgiving tax laws on the books. A resident Indian who holds a foreign bank account, owns overseas property, or has shares in a foreign company — and fails to disclose it in their income tax return — faces a flat penalty of Rs 10 lakh per assessment year. Not a percentage of the asset value. Not a sliding scale. A flat Rs 10 lakh, applied every year the omission continues. With Budget 2026 having introduced the Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS 2026) as a limited amnesty window, and the July 31 ITR deadline approaching, here are the seven disclosure mistakes that cost taxpayers the most.&nbsp;Mistake 1: Thinking Small Assets Do Not Need To Be Reported&nbsp;Many taxpayers assume that foreign assets below a certain value are exempt from disclosure. This is wrong. Under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, the Rs 10 lakh flat penalty applies regardless of the size of the foreign asset — with one exception: from October 1, 2024, the penalty under Sections 42 and 43 does not apply if the aggregate value of all non-immovable foreign assets is below Rs 20 lakh. Foreign immovable property, however, carries no such safe harbour — it must be declared regardless of value. A foreign bank account with Rs 50,000 in it still needs to appear in Schedule FA of your ITR.&nbsp;Mistake 2: Not Reporting Foreign Assets Inherited Or Received As Gifts&nbsp;Taxpayers who inherit foreign assets — a bank account from a parent who lived abroad, shares in a family-held overseas company, or foreign property — often assume they do not need to declare assets they did not actively acquire. The obligation to disclose applies to all foreign assets held by a resident Indian, regardless of how they were acquired. Inherited or gifted foreign assets must appear in Schedule FA from the year the taxpayer becomes the legal owner.&nbsp;Mistake 3: Returning NRIs Forgetting Overseas Assets&nbsp;Non-resident Indians who return to India and become resident taxpayers must begin disclosing their overseas assets from the year they become residents. Many returning NRIs continue to hold foreign bank accounts, retirement savings plans (such as 401k accounts in the US), or overseas property — and do not realise that these must now be disclosed annually in Schedule FA. A returning NRI who held a foreign account for years without disclosing it after becoming a resident faces compounding penalties for each year of non-disclosure.&nbsp;Mistake 4: Confusing Schedule FA With Schedule FSI&nbsp;Schedule FA and Schedule FSI serve different purposes and both must be filled where applicable. Schedule FA covers assets held outside India — bank accounts, equity, immovable property, trusts, and any other financial interest abroad. Schedule FSI covers income earned from foreign sources — salary received from a foreign employer, dividends from overseas shares, interest from a foreign bank account, or rental income from overseas property. Taxpayers often fill one and skip the other. Both are mandatory for resident taxpayers with overseas exposure, and the information in both schedules must be consistent.&nbsp;Mistake 5: Assuming Tax Disclosure Cures FEMA Violations&nbsp;Budget 2026's FAST-DS 2026 scheme allows individuals to regularise undisclosed foreign income and assets by paying applicable tax and a penalty, obtaining immunity under income tax laws. What it does not do is cure separate violations under the Foreign Exchange Management Act. Common FEMA contraventions include retaining foreign bank balances beyond the permitted repatriation period, acquiring overseas property through impermissible funding sources, or failing to file required reports such as Form FC with the Reserve Bank of India. Paying the income tax penalty under FAST-DS does not automatically resolve a FEMA liability — taxpayers need separate legal advice on FEMA compliance.&nbsp;Mistake 6: Not Reporting Foreign Income That Was Not Remitted To India&nbsp;Some taxpayers believe that foreign income needs to be declared in India only when it is brought into the country. This is incorrect for resident and ordinarily resident taxpayers. Under Indian tax law, residents are taxable on their global income — including income that arose abroad and was never remitted to India. Foreign salary credited to an overseas account, interest earned in a foreign bank that stayed abroad, or dividends from foreign shares that were reinvested overseas — all of these must be declared in Schedule FSI and are potentially taxable in India.&nbsp;Mistake 7: Filing The Wrong Return Form And Skipping Foreign Schedules&nbsp;Schedule FA and Schedule FSI exist only in ITR-2 and ITR-3. Taxpayers with foreign assets who file ITR-1 — perhaps because their salaried income appears to fit that form — have no way to complete the mandatory foreign asset disclosure. Filing ITR-1 when you hold foreign assets is treated as non-disclosure. Resident taxpayers with any overseas bank account, foreign shares, or overseas property must file at minimum ITR-2, which contains both Schedule FA and Schedule FSI. Getting the form wrong is not a technical defence — the penalty for non-disclosure applies regardless of which form was filed.

India imposes a flat Rs 10 lakh penalty for undisclosed foreign assets. Here are seven costly Schedule FA and FSI mistakes Indian taxpayers make — and how to avoid them before July 31.

India's Black Money Act is one of the most unforgiving tax laws on the books. A resident Indian who holds a foreign bank account, owns overseas property, or has shares in a foreign company — and fails to disclose it in their income tax return — faces a flat penalty of Rs 10 lakh per assessment year. Not a percentage of the asset value. Not a sliding scale. A flat Rs 10 lakh, applied every year the omission continues. With Budget 2026 having introduced the Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS 2026) as a limited amnesty window, and the July 31 ITR deadline approaching, here are the seven disclosure mistakes that cost taxpayers the most. Mistake 1: Thinking Small Assets Do Not Need To Be Reported Many taxpayers assume that foreign assets below a certain value are exempt from disclosure. This is wrong. Under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, the Rs 10 lakh flat penalty applies regardless of the size of the foreign asset — with one exception: from October 1, 2024, the penalty under Sections 42 and 43 does not apply if the aggregate value of all non-immovable foreign assets is below Rs 20 lakh. Foreign immovable property, however, carries no such safe harbour — it must be declared regardless of value. A foreign bank account with Rs 50,000 in it still needs to appear in Schedule FA of your ITR. Mistake 2: Not Reporting Foreign Assets Inherited Or Received As Gifts Taxpayers who inherit foreign assets — a bank account from a parent who lived abroad, shares in a family-held overseas company, or foreign property — often assume they do not need to declare assets they did not actively acquire. The obligation to disclose applies to all foreign assets held by a resident Indian, regardless of how they were acquired. Inherited or gifted foreign assets must appear in Schedule FA from the year the taxpayer becomes the legal owner. Mistake 3: Returning NRIs Forgetting Overseas Assets Non-resident Indians who return to India and become resident taxpayers must begin disclosing their overseas assets from the year they become residents. Many returning NRIs continue to hold foreign bank accounts, retirement savings plans (such as 401k accounts in the US), or overseas property — and do not realise that these must now be disclosed annually in Schedule FA. A returning NRI who held a foreign account for years without disclosing it after becoming a resident faces compounding penalties for each year of non-disclosure. Mistake 4: Confusing Schedule FA With Schedule FSI Schedule FA and Schedule FSI serve different purposes and both must be filled where applicable. Schedule FA covers assets held outside India — bank accounts, equity, immovable property, trusts, and any other financial interest abroad. Schedule FSI covers income earned from foreign sources — salary received from a foreign employer, dividends from overseas shares, interest from a foreign bank account, or rental income from overseas property. Taxpayers often fill one and skip the other. Both are mandatory for resident taxpayers with overseas exposure, and the information in both schedules must be consistent. Mistake 5: Assuming Tax Disclosure Cures FEMA Violations Budget 2026's FAST-DS 2026 scheme allows individuals to regularise undisclosed foreign income and assets by paying applicable tax and a penalty, obtaining immunity under income tax laws. What it does not do is cure separate violations under the Foreign Exchange Management Act. Common FEMA contraventions include retaining foreign bank balances beyond the permitted repatriation period, acquiring overseas property through impermissible funding sources, or failing to file required reports such as Form FC with the Reserve Bank of India. Paying the income tax penalty under FAST-DS does not automatically resolve a FEMA liability — taxpayers need separate legal advice on FEMA compliance. Mistake 6: Not Reporting Foreign Income That Was Not Remitted To India Some taxpayers believe that foreign income needs to be declared in India only when it is brought into the country. This is incorrect for resident and ordinarily resident taxpayers. Under Indian tax law, residents are taxable on their global income — including income that arose abroad and was never remitted to India. Foreign salary credited to an overseas account, interest earned in a foreign bank that stayed abroad, or dividends from foreign shares that were reinvested overseas — all of these must be declared in Schedule FSI and are potentially taxable in India. Mistake 7: Filing The Wrong Return Form And Skipping Foreign Schedules Schedule FA and Schedule FSI exist only in ITR-2 and ITR-3. Taxpayers with foreign assets who file ITR-1 — perhaps because their salaried income appears to fit that form — have no way to complete the mandatory foreign asset disclosure. Filing ITR-1 when you hold foreign assets is treated as non-disclosure. Resident taxpayers with any overseas bank account, foreign shares, or overseas property must file at minimum ITR-2, which contains both Schedule FA and Schedule FSI. Getting the form wrong is not a technical defence — the penalty for non-disclosure applies regardless of which form was filed.

India's income tax law imposes a flat Rs 10 lakh penalty per year for failing to disclose foreign assets — regardless of how small the asset is or whether any tax was evaded. With the government's FAST-DS 2026 amnesty scheme running and the July 31 deadline approaching, here are seven costly mistakes Indian taxpayers make when declaring foreign income and overseas assets in their ITR.

'Rs 10 lakh penalty': 7 foreign income disclosure mistakes to avoid in your ITR 2026

If you ask most Indian taxpayers when the income tax deadline is, the answer is always July 31. That answer is incomplete in 2026. Budget 2026 restructured the ITR filing calendar, creating a tiered system of deadlines based on the type of return being filed rather than a single date for everyone. The result is a compliance calendar that runs from July 31 all the way to March 31, 2027 — and missing the right date for your category can mean penalties, loss of tax benefits, and in some cases, a return that cannot be revised even if you find an error later.&nbsp;Deadline 1 — July 31, 2026: Salaried Filers And Investors&nbsp;The July 31 deadline applies to individuals and HUFs filing ITR-1 or ITR-2 for FY 2025-26. This covers salaried employees, pensioners, and investors with capital gains, dividend income, or multiple house properties — anyone whose income does not include business or professional earnings. Missing July 31 means a late filing fee of Rs 5,000 for those with income above Rs 5 lakh, or Rs 1,000 for those below. More significantly, taxpayers who miss this date permanently lose the right to carry forward capital losses or house property losses to offset against future income. That loss of carry-forward benefit cannot be recovered by filing late.&nbsp;Deadline 2 — August 31, 2026: Small Business And Freelancers&nbsp;This is the most significant new date introduced by Budget 2026. Taxpayers filing ITR-3 or ITR-4 with business or professional income that does not require a statutory audit now have until August 31, 2026. This group includes freelancers, consultants, doctors, lawyers, architects, small traders, and professionals under the presumptive taxation scheme. Previously, these taxpayers shared the July 31 deadline with salaried filers, creating a filing rush for people whose income records take longer to compile. The extra month is designed to reduce errors and last-minute compliance pressure for India's growing self-employed population.&nbsp;Deadline 3 — October 31, 2026: Audit Cases&nbsp;Businesses and professionals whose accounts are required to be audited under the Income Tax Act — typically those with turnover above the specified thresholds — have until October 31, 2026 to file. This deadline covers ITR-3 and ITR-4 filers in audit-mandatory categories, as well as companies filing ITR-6 and partnership firms filing ITR-5 that require statutory audit. The audit report itself — filed in Form 3CA or 3CB along with Form 3CD — must also be submitted before the October 31 deadline, meaning the entire audit process needs to be completed well before the month-end.&nbsp;Deadline 4 — November 30, 2026: Transfer Pricing Cases&nbsp;The November 30 deadline applies to businesses involved in international transactions or specified domestic transactions that require a transfer pricing report under Section 92E of the Income Tax Act. These are typically larger companies, multinationals, and businesses with cross-border related-party transactions. The transfer pricing accountant's report in Form 3CEB must be filed by November 30, and the ITR itself must also be submitted by this date. This is the last of the four filing deadlines for the assessment year.&nbsp;Deadline 5 — December 31, 2026: Belated Returns&nbsp;Taxpayers who missed their applicable deadline — whether July 31, August 31, or October 31 — can still file a belated return until December 31, 2026. However, filing a belated return carries a penalty of Rs 5,000 for taxpayers with income above Rs 5 lakh, and Rs 1,000 for those below. Interest continues to accrue on unpaid tax at 1 percent per month under Section 234A from the original deadline. Belated filers also cannot carry forward most types of losses. December 31 is an absolute cut-off — no original return can be filed after this date for FY 2025-26.&nbsp;Deadline 6 — March 31, 2027: Revised Returns&nbsp;The most taxpayer-friendly change in the 2026 calendar is this: the window to file a revised return — correcting errors or omissions in an already-filed return — has been extended from December 31 to March 31, 2027. Previously, taxpayers had to spot and correct mistakes in their return by December 31, the same deadline as belated returns. Now, anyone who filed on time but later discovers an error — a missed deduction, an incorrect figure, an unreported income source — has until the last day of the assessment year to correct it. This applies only to taxpayers who filed their original return on or before their applicable deadline.&nbsp;The Practical Takeaway&nbsp;The new calendar creates a genuine hierarchy of urgency. Salaried filers face the tightest window and should treat July 31 as non-negotiable. Business filers without audit requirements have August 31 — but using the extra month as a reason to delay until the last week is inadvisable. Audit cases should be commissioning their auditors now, not in September. And every taxpayer, regardless of category, should calendar March 31, 2027 as the safety net for correcting filed returns — because it is now the last real chance to get the numbers right for FY 2025-26.

India's 2026 ITR calendar runs from July 31 to March 2027. Six key dates cover salaried, business, audit, transfer pricing, belated, and revised return filers. Full tracker here.

If you ask most Indian taxpayers when the income tax deadline is, the answer is always July 31. That answer is incomplete in 2026. Budget 2026 restructured the ITR filing calendar, creating a tiered system of deadlines based on the type of return being filed rather than a single date for everyone. The result is a compliance calendar that runs from July 31 all the way to March 31, 2027 — and missing the right date for your category can mean penalties, loss of tax benefits, and in some cases, a return that cannot be revised even if you find an error later. Deadline 1 — July 31, 2026: Salaried Filers And Investors The July 31 deadline applies to individuals and HUFs filing ITR-1 or ITR-2 for FY 2025-26. This covers salaried employees, pensioners, and investors with capital gains, dividend income, or multiple house properties — anyone whose income does not include business or professional earnings. Missing July 31 means a late filing fee of Rs 5,000 for those with income above Rs 5 lakh, or Rs 1,000 for those below. More significantly, taxpayers who miss this date permanently lose the right to carry forward capital losses or house property losses to offset against future income. That loss of carry-forward benefit cannot be recovered by filing late. Deadline 2 — August 31, 2026: Small Business And Freelancers This is the most significant new date introduced by Budget 2026. Taxpayers filing ITR-3 or ITR-4 with business or professional income that does not require a statutory audit now have until August 31, 2026. This group includes freelancers, consultants, doctors, lawyers, architects, small traders, and professionals under the presumptive taxation scheme. Previously, these taxpayers shared the July 31 deadline with salaried filers, creating a filing rush for people whose income records take longer to compile. The extra month is designed to reduce errors and last-minute compliance pressure for India's growing self-employed population. Deadline 3 — October 31, 2026: Audit Cases Businesses and professionals whose accounts are required to be audited under the Income Tax Act — typically those with turnover above the specified thresholds — have until October 31, 2026 to file. This deadline covers ITR-3 and ITR-4 filers in audit-mandatory categories, as well as companies filing ITR-6 and partnership firms filing ITR-5 that require statutory audit. The audit report itself — filed in Form 3CA or 3CB along with Form 3CD — must also be submitted before the October 31 deadline, meaning the entire audit process needs to be completed well before the month-end. Deadline 4 — November 30, 2026: Transfer Pricing Cases The November 30 deadline applies to businesses involved in international transactions or specified domestic transactions that require a transfer pricing report under Section 92E of the Income Tax Act. These are typically larger companies, multinationals, and businesses with cross-border related-party transactions. The transfer pricing accountant's report in Form 3CEB must be filed by November 30, and the ITR itself must also be submitted by this date. This is the last of the four filing deadlines for the assessment year. Deadline 5 — December 31, 2026: Belated Returns Taxpayers who missed their applicable deadline — whether July 31, August 31, or October 31 — can still file a belated return until December 31, 2026. However, filing a belated return carries a penalty of Rs 5,000 for taxpayers with income above Rs 5 lakh, and Rs 1,000 for those below. Interest continues to accrue on unpaid tax at 1 percent per month under Section 234A from the original deadline. Belated filers also cannot carry forward most types of losses. December 31 is an absolute cut-off — no original return can be filed after this date for FY 2025-26. Deadline 6 — March 31, 2027: Revised Returns The most taxpayer-friendly change in the 2026 calendar is this: the window to file a revised return — correcting errors or omissions in an already-filed return — has been extended from December 31 to March 31, 2027. Previously, taxpayers had to spot and correct mistakes in their return by December 31, the same deadline as belated returns. Now, anyone who filed on time but later discovers an error — a missed deduction, an incorrect figure, an unreported income source — has until the last day of the assessment year to correct it. This applies only to taxpayers who filed their original return on or before their applicable deadline. The Practical Takeaway The new calendar creates a genuine hierarchy of urgency. Salaried filers face the tightest window and should treat July 31 as non-negotiable. Business filers without audit requirements have August 31 — but using the extra month as a reason to delay until the last week is inadvisable. Audit cases should be commissioning their auditors now, not in September. And every taxpayer, regardless of category, should calendar March 31, 2027 as the safety net for correcting filed returns — because it is now the last real chance to get the numbers right for FY 2025-26.

July 31 is the deadline everyone talks about — but India's income tax calendar for 2026 has five more critical dates that stretch all the way to March 2027. From August 31 for small business owners to November 30 for transfer pricing cases, and December 31 for belated returns, here is the complete compliance tracker every taxpayer needs.

6 Income Tax deadlines every Indian taxpayer must track In 2026

Every year, millions of Indian taxpayers file the wrong income tax return form — not out of dishonesty, but out of genuine confusion about which form their income profile requires. Filing the wrong form can mean a defective return notice, a demand for refiling, or in some cases, penalties for incorrect disclosure. For AY 2026-27, the Income Tax Department has also expanded the eligibility criteria for some forms, meaning taxpayers who previously had to file ITR-2 may now qualify for the simpler ITR-1. Here is a complete guide to all seven ITR forms.&nbsp;ITR-1 (Sahaj): The Simplest Form, Now With Wider Eligibility&nbsp;ITR-1, called Sahaj, is designed for resident individual taxpayers with straightforward income. For AY 2026-27, it applies to taxpayers with total income up to Rs 50 lakh from salary or pension, up to two house properties, interest and dividend income, and long-term capital gains under Section 112A of up to Rs 1.25 lakh. Agricultural income up to Rs 5,000 is also permitted. The key change for this year: the Income Tax Department has expanded ITR-1 eligibility to include taxpayers who own two house properties — previously, ownership of more than one property automatically pushed you to ITR-2. ITR-1 cannot be used by directors of companies, those holding unlisted equity shares, NRIs, or taxpayers with income from business or profession.&nbsp;ITR-2: For Capital Gains, Multiple Properties, And Foreign Income&nbsp;ITR-2 applies to individuals and Hindu Undivided Families who do not have income from business or profession. It is the correct form if you have capital gains from shares, mutual funds, or property sales; income from more than two house properties; foreign assets or foreign source income; or income that does not fit within ITR-1's limits. NRIs and non-ordinarily resident Indians also use ITR-2 for their Indian-source income. With up to 26 internal schedules, ITR-2 looks complex — but filers only need to complete the schedules that apply to their specific situation. The deadline for ITR-2 is July 31, 2026.&nbsp;ITR-3: For Business And Profession Income&nbsp;ITR-3 is filed by individuals and HUFs who earn income through a business or profession — whether it is a sole proprietorship, a trading operation, a consultancy, a medical practice, or any other self-run income-generating activity. Unlike ITR-4, ITR-3 does not limit you to presumptive taxation — it accommodates actual books of accounts, balance sheets, and profit and loss statements. If your business income exceeds the presumptive taxation threshold, or if you have opted out of the presumptive scheme, ITR-3 is your form. Deadline: August 31, 2026 for non-audit cases; October 31 for audit cases.&nbsp;ITR-4 (Sugam): For Presumptive Taxation&nbsp;ITR-4, also called Sugam, is designed for individuals, HUFs, and firms other than LLPs who have opted for the presumptive taxation scheme under Sections 44AD, 44ADA, or 44AE of the Income Tax Act. Under presumptive taxation, eligible taxpayers declare income at a flat percentage of turnover or gross receipts — 8 percent for business income under 44AD, and 50 percent for professional income under 44ADA — without needing to maintain detailed books of accounts. The expanded eligibility for AY 2026-27 allows more taxpayers to qualify for ITR-4. Total income must not exceed Rs 50 lakh. Deadline: August 31, 2026.&nbsp;ITR-5: For Firms, LLPs, And Associations&nbsp;ITR-5 is not for individuals at all. It is filed by partnership firms, Limited Liability Partnerships, Associations of Persons, Bodies of Individuals, artificial juridical persons, estates of deceased persons, estates of insolvents, business trusts, and investment funds. Cooperative societies not claiming exemption under Section 11 also use ITR-5. Entities required to file ITR-7 — those claiming exemption under charitable or religious trust provisions — cannot use ITR-5.&nbsp;ITR-6: For Companies&nbsp;ITR-6 is exclusively for companies — both private and public — registered under the Companies Act. The single exception: companies that claim exemption under Section 11 of the Income Tax Act, covering income from property held for charitable or religious purposes, must file ITR-7 instead. All other companies, regardless of whether they are profit-making or loss-making, file ITR-6.&nbsp;ITR-7: For Charitable Trusts, Political Parties, And Research Institutions&nbsp;ITR-7 applies to any person — including companies — required to file returns under Sections 139(4A), 139(4B), 139(4C), or 139(4D) of the Income Tax Act. In practice this means charitable and religious trusts, political parties, research institutions, universities, and entities claiming exemption under Sections 11 and 12. A charitable trust with taxable income above the basic exemption limit that does not need to file under mandatory sections may use ITR-5 — but entities mandatorily required to file under 139(4A) through 139(4F) must use ITR-7.&nbsp;The Single Most Important Rule&nbsp;If you are unsure which form applies to you, the safest starting point is this: any business or profession income puts you between ITR-3 and ITR-4. No business income but capital gains, foreign assets, or more than two properties means ITR-2. Income entirely from salary, pension, interest, and modest LTCG within the Rs 1.25 lakh limit — total income under Rs 50 lakh — means ITR-1 is sufficient. The Income Tax Department's e-filing portal at incometax.gov.in has a form selection tool that confirms the right form based on your income sources.

ITR-1 now covers two house properties. ITR-4 eligibility is wider. Here is a complete guide to all 7 ITR forms — who each is for and who is excluded — for AY 2026-27.

Every year, millions of Indian taxpayers file the wrong income tax return form — not out of dishonesty, but out of genuine confusion about which form their income profile requires. Filing the wrong form can mean a defective return notice, a demand for refiling, or in some cases, penalties for incorrect disclosure. For AY 2026-27, the Income Tax Department has also expanded the eligibility criteria for some forms, meaning taxpayers who previously had to file ITR-2 may now qualify for the simpler ITR-1. Here is a complete guide to all seven ITR forms. ITR-1 (Sahaj): The Simplest Form, Now With Wider Eligibility ITR-1, called Sahaj, is designed for resident individual taxpayers with straightforward income. For AY 2026-27, it applies to taxpayers with total income up to Rs 50 lakh from salary or pension, up to two house properties, interest and dividend income, and long-term capital gains under Section 112A of up to Rs 1.25 lakh. Agricultural income up to Rs 5,000 is also permitted. The key change for this year: the Income Tax Department has expanded ITR-1 eligibility to include taxpayers who own two house properties — previously, ownership of more than one property automatically pushed you to ITR-2. ITR-1 cannot be used by directors of companies, those holding unlisted equity shares, NRIs, or taxpayers with income from business or profession. ITR-2: For Capital Gains, Multiple Properties, And Foreign Income ITR-2 applies to individuals and Hindu Undivided Families who do not have income from business or profession. It is the correct form if you have capital gains from shares, mutual funds, or property sales; income from more than two house properties; foreign assets or foreign source income; or income that does not fit within ITR-1's limits. NRIs and non-ordinarily resident Indians also use ITR-2 for their Indian-source income. With up to 26 internal schedules, ITR-2 looks complex — but filers only need to complete the schedules that apply to their specific situation. The deadline for ITR-2 is July 31, 2026. ITR-3: For Business And Profession Income ITR-3 is filed by individuals and HUFs who earn income through a business or profession — whether it is a sole proprietorship, a trading operation, a consultancy, a medical practice, or any other self-run income-generating activity. Unlike ITR-4, ITR-3 does not limit you to presumptive taxation — it accommodates actual books of accounts, balance sheets, and profit and loss statements. If your business income exceeds the presumptive taxation threshold, or if you have opted out of the presumptive scheme, ITR-3 is your form. Deadline: August 31, 2026 for non-audit cases; October 31 for audit cases. ITR-4 (Sugam): For Presumptive Taxation ITR-4, also called Sugam, is designed for individuals, HUFs, and firms other than LLPs who have opted for the presumptive taxation scheme under Sections 44AD, 44ADA, or 44AE of the Income Tax Act. Under presumptive taxation, eligible taxpayers declare income at a flat percentage of turnover or gross receipts — 8 percent for business income under 44AD, and 50 percent for professional income under 44ADA — without needing to maintain detailed books of accounts. The expanded eligibility for AY 2026-27 allows more taxpayers to qualify for ITR-4. Total income must not exceed Rs 50 lakh. Deadline: August 31, 2026. ITR-5: For Firms, LLPs, And Associations ITR-5 is not for individuals at all. It is filed by partnership firms, Limited Liability Partnerships, Associations of Persons, Bodies of Individuals, artificial juridical persons, estates of deceased persons, estates of insolvents, business trusts, and investment funds. Cooperative societies not claiming exemption under Section 11 also use ITR-5. Entities required to file ITR-7 — those claiming exemption under charitable or religious trust provisions — cannot use ITR-5. ITR-6: For Companies ITR-6 is exclusively for companies — both private and public — registered under the Companies Act. The single exception: companies that claim exemption under Section 11 of the Income Tax Act, covering income from property held for charitable or religious purposes, must file ITR-7 instead. All other companies, regardless of whether they are profit-making or loss-making, file ITR-6. ITR-7: For Charitable Trusts, Political Parties, And Research Institutions ITR-7 applies to any person — including companies — required to file returns under Sections 139(4A), 139(4B), 139(4C), or 139(4D) of the Income Tax Act. In practice this means charitable and religious trusts, political parties, research institutions, universities, and entities claiming exemption under Sections 11 and 12. A charitable trust with taxable income above the basic exemption limit that does not need to file under mandatory sections may use ITR-5 — but entities mandatorily required to file under 139(4A) through 139(4F) must use ITR-7. The Single Most Important Rule If you are unsure which form applies to you, the safest starting point is this: any business or profession income puts you between ITR-3 and ITR-4. No business income but capital gains, foreign assets, or more than two properties means ITR-2. Income entirely from salary, pension, interest, and modest LTCG within the Rs 1.25 lakh limit — total income under Rs 50 lakh — means ITR-1 is sufficient. The Income Tax Department's e-filing portal at incometax.gov.in has a form selection tool that confirms the right form based on your income sources.

Filing the wrong ITR form is one of the most common — and costly — mistakes Indian taxpayers make. For AY 2026-27, the rules have changed: ITR-1 now allows two house properties, and the eligibility lines between ITR-2, ITR-3, and ITR-4 have sharpened. Here is a plain-language guide to all seven forms — who each one is for, and who is specifically excluded.

ITR-1 Or ITR-3? Which Income Tax Return form you should actually be filing for AY 2026-27

Every year, Indian taxpayers treat July 31 as if it is the only income tax date that matters in the month. It is not. The July tax compliance calendar runs from the very first week of the month, and missing any of the earlier dates can create cascading problems — penalty notices, interest charges, and in some cases, the permanent loss of the right to carry forward losses to offset against future income. Here are the five income tax deadlines in July 2026 that every taxpayer, employer, and business owner needs to have on their calendar.&nbsp;July 7: TDS And TCS Deposits&nbsp;The first compliance deadline of the month falls on July 7, and it applies to anyone who deducts or collects tax at source. Tax Deducted at Source for the month of June 2026 must be deposited with the government by this date. Additionally, businesses that have been permitted by their Assessing Officer to make quarterly TDS deposits — covering the April to June 2026 quarter — must also deposit by July 7. This date also covers the upload of declarations received from buyers in Form 127 during June 2026, and declarations received from recipients in Form 121 for the quarter ending June 2026.&nbsp;July 15: Reporting By Financial Institutions And Exchanges&nbsp;July 15 is primarily a compliance date for regulated entities rather than individual taxpayers. Financial institutions, stock exchanges, authorised dealers, and certain other reporting entities must submit their required transaction reports by this date. This also includes the issuance of Form 132 certificates for specified taxes deducted in May 2026. While individual filers are not directly affected, this deadline feeds into the pre-filled data available in their ITR forms — making it relevant to anyone who expects their investment or banking income to appear automatically in their tax return.&nbsp;July 30: TDS Challan-Cum-Statement&nbsp;Any individual or entity that deducted tax on payments made during June 2026 must file the corresponding challan-cum-statement by July 30. This is a separate filing from the standard TDS return, and it applies in specific categories of transactions. Missing this date triggers its own penalties under the Income Tax Act and can create compliance mismatches that surface later during scrutiny.&nbsp;July 31: ITR Filing For Salaried And ITR-2 Filers&nbsp;The primary deadline most taxpayers know — July 31, 2026 is the last date to file income tax returns for FY 2025-26 for individuals and HUFs filing ITR-1 or ITR-2. This covers salaried employees, pensioners, and investors with capital gains or multiple house properties. Missing this deadline means a late fee of Rs 5,000 for taxpayers with income above Rs 5 lakh, or Rs 1,000 for those below the Rs 5 lakh threshold. Interest at 1 percent per month also accrues on any outstanding tax under Section 234A. Critically, taxpayers who miss July 31 also lose the ability to carry forward losses — such as capital losses or losses from house property — to set off against income in future years. The right to carry forward losses is available only if the return is filed on time.&nbsp;July 31: TDS And TCS Quarterly Returns, Plus Special Forms&nbsp;The second July 31 obligation is less well known but equally significant. Companies must file their TDS and TCS returns for the April to June 2026 quarter by this date, covering Forms 138, 140, 142, and 144. A range of special forms are also due on July 31: Form 10E for claiming salary arrear relief under Section 89, Form 10BA for deduction of rent paid, Form 10H for foreign income, and Forms 10CCE and 10CCD for royalty and technical know-how deductions. Pension funds must also submit their required reporting through Form 175 by this date. Each of these has its own penalty structure under the Income Tax Act for late or non-filing.&nbsp;Do Not Wait Till July 31&nbsp;With five separate compliance milestones spread across July, the safest approach is to treat July 7 as the month's opening gun — not July 31 as the finish line. For employers and businesses, missing the TDS deposit on July 7 is often more immediately damaging than missing the ITR deadline at the end of the month, since it attracts penalties, disallowance of expense deductions, and prosecution risk under Section 276B of the Income Tax Act. For individual filers, begin gathering Form 16, capital gains statements, and bank interest certificates now — July 31 leaves almost no time to recover if anything is missing.

July 2026 has five income tax compliance deadlines — July 7, 15, 30, and two on July 31. Missing any can trigger penalties or loss of carry-forward loss benefit. Full guide here.

Every year, Indian taxpayers treat July 31 as if it is the only income tax date that matters in the month. It is not. The July tax compliance calendar runs from the very first week of the month, and missing any of the earlier dates can create cascading problems — penalty notices, interest charges, and in some cases, the permanent loss of the right to carry forward losses to offset against future income. Here are the five income tax deadlines in July 2026 that every taxpayer, employer, and business owner needs to have on their calendar. July 7: TDS And TCS Deposits The first compliance deadline of the month falls on July 7, and it applies to anyone who deducts or collects tax at source. Tax Deducted at Source for the month of June 2026 must be deposited with the government by this date. Additionally, businesses that have been permitted by their Assessing Officer to make quarterly TDS deposits — covering the April to June 2026 quarter — must also deposit by July 7. This date also covers the upload of declarations received from buyers in Form 127 during June 2026, and declarations received from recipients in Form 121 for the quarter ending June 2026. July 15: Reporting By Financial Institutions And Exchanges July 15 is primarily a compliance date for regulated entities rather than individual taxpayers. Financial institutions, stock exchanges, authorised dealers, and certain other reporting entities must submit their required transaction reports by this date. This also includes the issuance of Form 132 certificates for specified taxes deducted in May 2026. While individual filers are not directly affected, this deadline feeds into the pre-filled data available in their ITR forms — making it relevant to anyone who expects their investment or banking income to appear automatically in their tax return. July 30: TDS Challan-Cum-Statement Any individual or entity that deducted tax on payments made during June 2026 must file the corresponding challan-cum-statement by July 30. This is a separate filing from the standard TDS return, and it applies in specific categories of transactions. Missing this date triggers its own penalties under the Income Tax Act and can create compliance mismatches that surface later during scrutiny. July 31: ITR Filing For Salaried And ITR-2 Filers The primary deadline most taxpayers know — July 31, 2026 is the last date to file income tax returns for FY 2025-26 for individuals and HUFs filing ITR-1 or ITR-2. This covers salaried employees, pensioners, and investors with capital gains or multiple house properties. Missing this deadline means a late fee of Rs 5,000 for taxpayers with income above Rs 5 lakh, or Rs 1,000 for those below the Rs 5 lakh threshold. Interest at 1 percent per month also accrues on any outstanding tax under Section 234A. Critically, taxpayers who miss July 31 also lose the ability to carry forward losses — such as capital losses or losses from house property — to set off against income in future years. The right to carry forward losses is available only if the return is filed on time. July 31: TDS And TCS Quarterly Returns, Plus Special Forms The second July 31 obligation is less well known but equally significant. Companies must file their TDS and TCS returns for the April to June 2026 quarter by this date, covering Forms 138, 140, 142, and 144. A range of special forms are also due on July 31: Form 10E for claiming salary arrear relief under Section 89, Form 10BA for deduction of rent paid, Form 10H for foreign income, and Forms 10CCE and 10CCD for royalty and technical know-how deductions. Pension funds must also submit their required reporting through Form 175 by this date. Each of these has its own penalty structure under the Income Tax Act for late or non-filing. Do Not Wait Till July 31 With five separate compliance milestones spread across July, the safest approach is to treat July 7 as the month's opening gun — not July 31 as the finish line. For employers and businesses, missing the TDS deposit on July 7 is often more immediately damaging than missing the ITR deadline at the end of the month, since it attracts penalties, disallowance of expense deductions, and prosecution risk under Section 276B of the Income Tax Act. For individual filers, begin gathering Form 16, capital gains statements, and bank interest certificates now — July 31 leaves almost no time to recover if anything is missing.

Most taxpayers only know about the July 31 ITR filing deadline — but there are four other income tax compliance dates in July 2026 that affect businesses, employers, financial institutions, and salaried individuals alike. Missing any one of them can trigger penalties, interest charges, or loss of the right to carry forward tax losses.

5 income tax deadlines in July 2026 you cannot miss

If your income comes from salary but you also sold shares, own more than one property, hold foreign assets, or received income from virtual digital assets in FY 2025-26, ITR-1 is not the right form for you. ITR-2 is — and while it can look intimidating at first glance, with up to 26 schedules inside the form, the rule is simple: you only fill what applies to your situation. Here is a section-by-section breakdown of the 15 most important schedules for AY 2026-27, what is new this year, and what you can safely ignore.&nbsp;Who Should File ITR-2&nbsp;ITR-2 applies to individuals and Hindu Undivided Families who do not have income from business or profession. If you have salary income alongside capital gains, income from more than one house property, dividend income, foreign income or assets, or income from virtual digital assets — ITR-2 is your form. Non-residents and non-ordinarily resident Indians also use ITR-2 for Indian-source income. The filing deadline for ITR-2 is July 31, 2026.&nbsp;What Is New For AY 2026-27&nbsp;Two auto-selections have been introduced this year: the filing status field is pre-filled as ‘Filed u/s 139(1)’ — the standard on-time filing section — and the tax regime selector defaults to the new regime. If you intend to file under the old regime, you will need to manually override this. The other important change: the split capital gains reporting requirement introduced after Budget 2024 — where gains before and after July 23, 2024 had to be disclosed separately — has been removed. Capital gains reporting is now consolidated, simplifying the schedule considerably.&nbsp;The 15 Key Schedules&nbsp;Part A General: Start by verifying the pre-filled profile data covering contact details, residential status, bank accounts, and filing status. Bank Details: All bank accounts must be listed; at least one must be pre-validated for tax refunds to be credited. Schedule House Property: Report income or loss from self-occupied, let-out, or deemed let-out properties individually. Each property gets its own block with gross rent, municipal tax deduction, 30 percent standard deduction, and home loan interest under Section 24. Land and building transfers must be reported per property — consolidated reporting is not permitted here. Schedule Capital Gains: Segregates capital gains by asset type. Post-Budget 2024 rates: short-term capital gains under Section 111A are taxed at 20 percent; long-term capital gains under Section 112A are taxed at 12.5 percent. For multiple assets of the same type, consolidated calculation is allowed — except for land and building, which require individual computations. Schedule VDA: A dedicated schedule for virtual digital asset income including cryptocurrency and NFTs. This auto-populates into Schedule CG.&nbsp;Loss Schedules You Cannot Ignore&nbsp;Schedule CYLA shows income after adjusting current-year losses across heads. Schedule BFLA applies brought-forward losses from prior assessment years to reduce current income. Schedule CFL identifies losses that are eligible to be carried forward to future years. If you have capital loss carry-forwards from earlier years, these three schedules work together and must be filled in sequence.&nbsp;Deductions, Clubbing, And Foreign Disclosures&nbsp;Schedule VI-A covers all deductions — Section 80C investments, Section 80D health insurance premiums, and others. This schedule is primarily relevant for taxpayers staying in the old regime. Schedule SPI applies when income from a spouse or minor child must be clubbed with the taxpayer's own income. Schedule FSI is mandatory for residents reporting income from foreign sources — whether from employment abroad, interest in a foreign bank, or dividends from overseas holdings. Schedule TR summarises the tax relief claimed for foreign taxes already paid, country by country. Schedule FA requires residents to disclose all foreign assets — bank accounts, equity, immovable property, trusts — held at any point during the year. Non-residents and non-ordinarily resident Indians are exempt from Schedule FA.&nbsp;High-Income Filers And Special Cases&nbsp;Schedule AL is mandatory for all taxpayers whose total income exceeds Rs 1 crore. It requires a full disclosure of movable and immovable assets and the liabilities attached to them. Schedule 5A applies only to taxpayers governed by the Portuguese Civil Code community property rules — relevant for residents of Goa and certain Union Territories. If neither applies to you, both can be skipped. With roughly half of ITR-2's 26 schedules applicable only to specific situations, the key to filing correctly is not completing every section — it is knowing which ones your financial profile actually requires.

ITR-2 contains 26 schedules but you only fill what applies. Here is a section-by-section guide for AY 2026-27 covering capital gains, house property, foreign assets, VDA, and what changed this year.

If your income comes from salary but you also sold shares, own more than one property, hold foreign assets, or received income from virtual digital assets in FY 2025-26, ITR-1 is not the right form for you. ITR-2 is — and while it can look intimidating at first glance, with up to 26 schedules inside the form, the rule is simple: you only fill what applies to your situation. Here is a section-by-section breakdown of the 15 most important schedules for AY 2026-27, what is new this year, and what you can safely ignore. Who Should File ITR-2 ITR-2 applies to individuals and Hindu Undivided Families who do not have income from business or profession. If you have salary income alongside capital gains, income from more than one house property, dividend income, foreign income or assets, or income from virtual digital assets — ITR-2 is your form. Non-residents and non-ordinarily resident Indians also use ITR-2 for Indian-source income. The filing deadline for ITR-2 is July 31, 2026. What Is New For AY 2026-27 Two auto-selections have been introduced this year: the filing status field is pre-filled as ‘Filed u/s 139(1)’ — the standard on-time filing section — and the tax regime selector defaults to the new regime. If you intend to file under the old regime, you will need to manually override this. The other important change: the split capital gains reporting requirement introduced after Budget 2024 — where gains before and after July 23, 2024 had to be disclosed separately — has been removed. Capital gains reporting is now consolidated, simplifying the schedule considerably. The 15 Key Schedules Part A General: Start by verifying the pre-filled profile data covering contact details, residential status, bank accounts, and filing status. Bank Details: All bank accounts must be listed; at least one must be pre-validated for tax refunds to be credited. Schedule House Property: Report income or loss from self-occupied, let-out, or deemed let-out properties individually. Each property gets its own block with gross rent, municipal tax deduction, 30 percent standard deduction, and home loan interest under Section 24. Land and building transfers must be reported per property — consolidated reporting is not permitted here. Schedule Capital Gains: Segregates capital gains by asset type. Post-Budget 2024 rates: short-term capital gains under Section 111A are taxed at 20 percent; long-term capital gains under Section 112A are taxed at 12.5 percent. For multiple assets of the same type, consolidated calculation is allowed — except for land and building, which require individual computations. Schedule VDA: A dedicated schedule for virtual digital asset income including cryptocurrency and NFTs. This auto-populates into Schedule CG. Loss Schedules You Cannot Ignore Schedule CYLA shows income after adjusting current-year losses across heads. Schedule BFLA applies brought-forward losses from prior assessment years to reduce current income. Schedule CFL identifies losses that are eligible to be carried forward to future years. If you have capital loss carry-forwards from earlier years, these three schedules work together and must be filled in sequence. Deductions, Clubbing, And Foreign Disclosures Schedule VI-A covers all deductions — Section 80C investments, Section 80D health insurance premiums, and others. This schedule is primarily relevant for taxpayers staying in the old regime. Schedule SPI applies when income from a spouse or minor child must be clubbed with the taxpayer's own income. Schedule FSI is mandatory for residents reporting income from foreign sources — whether from employment abroad, interest in a foreign bank, or dividends from overseas holdings. Schedule TR summarises the tax relief claimed for foreign taxes already paid, country by country. Schedule FA requires residents to disclose all foreign assets — bank accounts, equity, immovable property, trusts — held at any point during the year. Non-residents and non-ordinarily resident Indians are exempt from Schedule FA. High-Income Filers And Special Cases Schedule AL is mandatory for all taxpayers whose total income exceeds Rs 1 crore. It requires a full disclosure of movable and immovable assets and the liabilities attached to them. Schedule 5A applies only to taxpayers governed by the Portuguese Civil Code community property rules — relevant for residents of Goa and certain Union Territories. If neither applies to you, both can be skipped. With roughly half of ITR-2's 26 schedules applicable only to specific situations, the key to filing correctly is not completing every section — it is knowing which ones your financial profile actually requires.

ITR-2 is the correct return for salaried individuals with capital gains, multiple house properties, or foreign income — but it contains up to 26 schedules that can overwhelm even experienced filers. Here is a quick guide to the 15 most important sections, what changed for AY 2026-27, and which schedules you can skip entirely.

Filing ITR-2 for AY 2026-27? Here are 15 key sections explained

For years, July 31 was the one date every Indian taxpayer circled on their calendar. Salaried employees, freelancers, small business owners, consultants — everyone raced against the same deadline. That era is over. Budget 2026 has restructured the ITR filing calendar entirely, tying deadlines to the type of return being filed rather than forcing every category of taxpayer to comply on the same date. If you assume your deadline is still July 31, you may be right — or you may have an extra month, or even four months. The difference depends on which ITR form applies to you.&nbsp;What Changed And Why&nbsp;The old calendar was a blunt instrument. A salaried employee with straightforward income and a small business owner with complex accounts, inventory, and GST filings both had to comply by the same July 31 date — even though the compliance burden was vastly different. Budget 2026 acknowledged this imbalance and introduced a tiered deadline system based on ITR form type, not taxpayer category. The goal was to reduce last-minute filing pressure, reduce errors in returns filed in a rush, and give businesses that genuinely need more time — particularly those subject to statutory audits — room to file correctly rather than quickly.&nbsp;The New Calendar At A Glance&nbsp;Salaried employees, pensioners, and investors filing ITR-1 or ITR-2 — covering income from salary, interest, capital gains, dividends, and up to two house properties — retain the July 31, 2026 deadline. Nothing has changed for this group. Taxpayers filing ITR-3 or ITR-4 with business or professional income that does not require a statutory audit have received a meaningful relief: their deadline is now August 31, 2026 — a full extra month. For business income cases that do require a statutory audit under the Income Tax Act, the deadline is October 31, 2026. Companies and partnerships involved in international transactions or specified domestic transactions requiring transfer pricing reports have until November 30, 2026.&nbsp;What This Means For The Self-Employed&nbsp;The biggest beneficiaries of this change are freelancers, consultants, doctors, lawyers, chartered accountants, architects, and small business owners who previously scrambled to meet the July 31 deadline while also managing quarterly advance tax payments and monthly GST filings. For the non-audit cases in this group — the majority of small businesses and professionals operating under the presumptive taxation scheme — the August 31 date provides a meaningful buffer. It reduces the risk of errors that come from filing in a rush, and it aligns their compliance window more closely with the actual time they need to compile income records from the full financial year.&nbsp;Miss It And It Costs You&nbsp;For anyone who misses their applicable deadline, a belated return can still be filed until December 31, 2026, but it comes with a penalty of up to Rs 5,000 under Section 234F — reduced to Rs 1,000 for taxpayers with total income below Rs 5 lakh. Interest on any outstanding tax liability also continues to accrue at 1 percent per month under Section 234A. In a significant additional change, the window for filing a revised return — allowing taxpayers to correct mistakes after the initial filing — has been extended from December 31 to March 31, 2027, the last day of the assessment year. This gives taxpayers who file on time but discover errors later a longer window to fix them without penalty.&nbsp;Check Your Form Before Assuming Your Date&nbsp;The critical action for every taxpayer right now is to confirm which ITR form applies to their situation before assuming a deadline. A salaried person with freelance income on the side, or an investor who also runs a small consultancy, may find their applicable form — and therefore their deadline — different from what they expect. The Income Tax Department's e-filing portal (incometax.gov.in) allows taxpayers to check their applicable form based on income sources. With July 31 approaching rapidly, salaried filers who haven't begun should treat the deadline as urgent. For business filers with a later date, the extra time is a relief — but not an invitation to delay.

India changed ITR filing deadlines in 2026. July 31 is not universal anymore. Salaried filers, business owners, and audit cases now have different due dates. Here's the full calendar.

For years, July 31 was the one date every Indian taxpayer circled on their calendar. Salaried employees, freelancers, small business owners, consultants — everyone raced against the same deadline. That era is over. Budget 2026 has restructured the ITR filing calendar entirely, tying deadlines to the type of return being filed rather than forcing every category of taxpayer to comply on the same date. If you assume your deadline is still July 31, you may be right — or you may have an extra month, or even four months. The difference depends on which ITR form applies to you. What Changed And Why The old calendar was a blunt instrument. A salaried employee with straightforward income and a small business owner with complex accounts, inventory, and GST filings both had to comply by the same July 31 date — even though the compliance burden was vastly different. Budget 2026 acknowledged this imbalance and introduced a tiered deadline system based on ITR form type, not taxpayer category. The goal was to reduce last-minute filing pressure, reduce errors in returns filed in a rush, and give businesses that genuinely need more time — particularly those subject to statutory audits — room to file correctly rather than quickly. The New Calendar At A Glance Salaried employees, pensioners, and investors filing ITR-1 or ITR-2 — covering income from salary, interest, capital gains, dividends, and up to two house properties — retain the July 31, 2026 deadline. Nothing has changed for this group. Taxpayers filing ITR-3 or ITR-4 with business or professional income that does not require a statutory audit have received a meaningful relief: their deadline is now August 31, 2026 — a full extra month. For business income cases that do require a statutory audit under the Income Tax Act, the deadline is October 31, 2026. Companies and partnerships involved in international transactions or specified domestic transactions requiring transfer pricing reports have until November 30, 2026. What This Means For The Self-Employed The biggest beneficiaries of this change are freelancers, consultants, doctors, lawyers, chartered accountants, architects, and small business owners who previously scrambled to meet the July 31 deadline while also managing quarterly advance tax payments and monthly GST filings. For the non-audit cases in this group — the majority of small businesses and professionals operating under the presumptive taxation scheme — the August 31 date provides a meaningful buffer. It reduces the risk of errors that come from filing in a rush, and it aligns their compliance window more closely with the actual time they need to compile income records from the full financial year. Miss It And It Costs You For anyone who misses their applicable deadline, a belated return can still be filed until December 31, 2026, but it comes with a penalty of up to Rs 5,000 under Section 234F — reduced to Rs 1,000 for taxpayers with total income below Rs 5 lakh. Interest on any outstanding tax liability also continues to accrue at 1 percent per month under Section 234A. In a significant additional change, the window for filing a revised return — allowing taxpayers to correct mistakes after the initial filing — has been extended from December 31 to March 31, 2027, the last day of the assessment year. This gives taxpayers who file on time but discover errors later a longer window to fix them without penalty. Check Your Form Before Assuming Your Date The critical action for every taxpayer right now is to confirm which ITR form applies to their situation before assuming a deadline. A salaried person with freelance income on the side, or an investor who also runs a small consultancy, may find their applicable form — and therefore their deadline — different from what they expect. The Income Tax Department's e-filing portal (incometax.gov.in) allows taxpayers to check their applicable form based on income sources. With July 31 approaching rapidly, salaried filers who haven't begun should treat the deadline as urgent. For business filers with a later date, the extra time is a relief — but not an invitation to delay.

India has quietly overhauled its income tax filing calendar for 2026, and the old one-size-fits-all July 31 deadline no longer applies to everyone. Depending on whether you are salaried, run a business, or require an audit, your ITR due date could be July 31, August 31, October 31, or even November 30. Here is the complete new calendar — and why missing it could cost you.

ITR 2026: Your deadline is not same as before! Here's the new calendar

Taxpayers now have a variety of trusted platforms to assist with ITR filing, combining ease of use with reliable support. Choose the one that best fits your income structure and preferred level of assistance to ensure smooth and compliant filing.

Taxpayers now have a variety of trusted platforms to assist with ITR filing, combining ease of use with reliable support. Choose the one that best fits your income structure and preferred level of assistance to ensure smooth and compliant filing.

5 online platforms to file your ITR for FY 2024–25

With the income tax return (ITR) filing season for Financial Year 2024–25 (Assessment Year 2025–26) underway, choosing the correct ITR form has become a critical first step for every taxpayer. 

With the income tax return (ITR) filing season for Financial Year 2024–25 (Assessment Year 2025–26) underway, choosing the correct ITR form has become a critical first step for every taxpayer.&nbsp;

Which ITR form should you file? Guide to types of income tax return forms for FY 2024–25

The Union Budget 2025 introduced Schedule VDA, a new section in the ITR forms exclusively for reporting crypto and NFT-related income. 

The Union Budget 2025 introduced Schedule VDA, a new section in the ITR forms exclusively for reporting crypto and NFT-related income.&nbsp;

Crypto gains in 2025? Don’t file ITR without reading these new rules

One of the key triggers for scrutiny this year is an incorrect or inflated TDS claim. If the TDS mentioned in the ITR does not match what is reflected in Form 26AS or AIS, the return may be flagged for further review. Taxpayers must cross-check these details before submitting their return.

One of the key triggers for scrutiny this year is an incorrect or inflated TDS claim. If the TDS mentioned in the ITR does not match what is reflected in Form 26AS or AIS, the return may be flagged for further review. Taxpayers must cross-check these details before submitting their return.

This small TDS error could trigger an ITR investigation! Here's why it might raise a red flag

With the income tax filing deadline for FY 2024–25 nearing, Non-Resident Indians (NRIs) need to take extra care in preparing their documents and complying with Indian tax regulations. Here are seven key aspects to consider while filing returns in India:

NRIs must collect their Permanent Account Number (PAN), valid visa or proof of overseas residency, and bank statements for all NRE, NRO, and Indian savings accounts covering April 2024 to March 2025.&nbsp;

ITR Filing for NRIs: Complete checklist to avoid mistakes in 2025

The last date for filing Income Tax Returns (ITR) for FY 2023-24 is due on July 31 (Wednesday). But what happens if you miss the deadline of July 31? Here are a few things you need to know.

In case a person misses the July 31 deadline, he will have the opportunity to file a belated return by December 31 of this year but failing to submit your ITR on a new date as well will result in the automatic assignment to the new tax regime.

There are some speculations that the deadline of July 31 will get extended but that is highly unlikely. In 2023 as well, a large number of taxpayers were caught off guard when the deadline was not extended. Therefore, it is advised to prepare and file your returns on time to avoid penalties and fines.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/quad-is-here-to-grow-indian-foreign-minister-jaishankar-at-tokyo-meet-745112">Quad is here to grow: EAM Dr S Jaishankar at Tokyo meet</a>

<h2>ITR Filing Deadline: What happens if you miss filing returns by July 31 this year?</h2>

Currently, two tax regimes are being operated: the old regime and the new regime which was introduced in 2020 and features revised tax slabs and concessionary rates.

If you fail to file your ITR by July 31, you have the option to submit a late return and as per Section 234F of the Income Tax Act, late filing fees of ₹5000 can be levied. If your income does not exceed ₹5 lakh, the late filing fee is ₹1,000.

Additionally, interest will be charged at the rate of 1 per cent per month or part of the month on the outstanding tax amount from the due date but the penalty imposed cannot surpass the amount of tax in arrears.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/india-now-knows-what-will-it-take-to-become-developed-nation-by-2047-744857">This is what it takes for India to become developed nation by 2047</a>

On the other hand, if you have opted for the old tax regime, missing the deadline could lead to losing its benefits. If you miss the deadline, you will be automatically shifted to the new tax regime, which is the default option.

Those who choose to file their income tax returns late will also have to give up the opportunity to carry forward any capital losses they might have suffered. This means such taxpayers will be unable to utilize these losses to offset future gains resulting in a higher tax liability in coming years.

(With inputs from agencies)

The last date for filing Income Tax Returns (ITR) for FY 2023-24 is due on July 31 (Wednesday). But what happens if you miss the deadline of July 31? Here are a few things you need to know.

The last date for filing Income Tax Returns (ITR) for FY 2023-24 is due on July 31 (Wednesday). But what happens if you miss the deadline of July 31? Here are a few things you need to know. In case a person misses the July 31 deadline, he will have the opportunity to file a belated return by December 31 of this year but failing to submit your ITR on a new date as well will result in the automatic assignment to the new tax regime. There are some speculations that the deadline of July 31 will get extended but that is highly unlikely. In 2023 as well, a large number of taxpayers were caught off guard when the deadline was not extended. Therefore, it is advised to prepare and file your returns on time to avoid penalties and fines. Also Read | Quad is here to grow: EAM Dr S Jaishankar at Tokyo meet ITR Filing Deadline: What happens if you miss filing returns by July 31 this year? Currently, two tax regimes are being operated: the old regime and the new regime which was introduced in 2020 and features revised tax slabs and concessionary rates. If you fail to file your ITR by July 31, you have the option to submit a late return and as per Section 234F of the Income Tax Act, late filing fees of ₹5000 can be levied. If your income does not exceed ₹5 lakh, the late filing fee is ₹1,000. Additionally, interest will be charged at the rate of 1 per cent per month or part of the month on the outstanding tax amount from the due date but the penalty imposed cannot surpass the amount of tax in arrears. Also Read | This is what it takes for India to become developed nation by 2047 On the other hand, if you have opted for the old tax regime, missing the deadline could lead to losing its benefits. If you miss the deadline, you will be automatically shifted to the new tax regime, which is the default option. Those who choose to file their income tax returns late will also have to give up the opportunity to carry forward any capital losses they might have suffered. This means such taxpayers will be unable to utilize these losses to offset future gains resulting in a higher tax liability in coming years. (With inputs from agencies)

ITR Filing Deadline: What will happen if you miss filing returns by July 31 this year?

ITR Filing FY 2022-23 Last Date: After weeks full of campaigns and promotions, the last date for filing ITR is here. One can file ITR till July 31. According to the Income Tax Department, almost 50.83 million returns were already&nbsp;filed for the financial year 2022-23 until July 30, 1 pm, crossing the number for last year's filling. The department has urged citizens to file their respective taxe returns as soon as possible to avoid late penalties.

Despite a record-breaking number of ITR filings, a survey found that at least 14 per cent of the citizens won't be able to file taxes due to heavy rainfall, Mint reported.&nbsp;

Here are the required documents and a guide for you to file ITR:

<h2>Required documents:</h2>

Form 16

Fore 16A

Form 26AS

Capital gains statements

Medical insurance statement, if applied

Tax saving investment proof

PAN Card

<h2>How to log in to file ITR:</h2>

First, visit the Income Tax e-Filing portal and login entering your user ID (PAN), password and captcha code.&nbsp;

Then click on the "e-File" menu and click on the "Income Tax Return" link.&nbsp;

After this choose the Income Tax Return (ITR) form. As you are a salaried taxpayer having Form-16, you can choose either ITR-1 or ITR-2.

Then select the assessment year (AY) for which you want to file your taxes, i.e. 2023-2024.

After doing so, check all your details thoroughly and proceed further in the form by clicking on 'submit.'

When&nbsp;done with submitting your return, e-verify it by using other options such as Aadhaar OTP etc.&nbsp;

Upload the e-verified return.

But what if your details vanish while submitting the returns?

Many of the netizens tweeted the following, to which Income Tax India responded by saying to retry after clearing the browser cache.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Hi team, 
 
The Income Tax portal is not working and every single process is taking too much time and sometimes I have already filed details vanish after proceed further. 
 
Please consider the same and resolve the issue ASAP. <a href="https://twitter.com/IncomeTaxIndia?ref_src=twsrc%5Etfw">@IncomeTaxIndia</a> <a href="https://twitter.com/nsitharamanoffc?ref_src=twsrc%5Etfw">@nsitharamanoffc</a> <a href="https://t.co/xJakCrAgrA">pic.twitter.com/xJakCrAgrA</a>
— Navdeep Gupta (@navdeepgupta100) <a href="https://twitter.com/navdeepgupta100/status/1685574197681238016?ref_src=twsrc%5Etfw">July 30, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

What if you miss the ITR deadline?

Though one shouldn't miss the ITR deadline by being a responsible citizen by paying taxes on time, some do fail to do so.

In such case, a maximum penalty of Rs 5,000 ($60) will be levied if the taxpayer file ITR after the deadline (July 31). However, for those whose total income does not exceed Rs 500,000 ($6,081) in a fiscal year are to pay Rs 1,000 ($12.16) in case of filing taxes after the deadline.

(With inputs from agencies)

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ITR Filing FY 2022-23 Last Date: After weeks full of campaigns and promotions, the last date for filing ITR is here. One can file ITR till July 31. According to the Income Tax Department, almost 50.

ITR Filing FY 2022-23 Last Date: After weeks full of campaigns and promotions, the last date for filing ITR is here. One can file ITR till July 31. According to the Income Tax Department, almost 50.83 million returns were already filed for the financial year 2022-23 until July 30, 1 pm, crossing the number for last year's filling. The department has urged citizens to file their respective taxe returns as soon as possible to avoid late penalties. Despite a record-breaking number of ITR filings, a survey found that at least 14 per cent of the citizens won't be able to file taxes due to heavy rainfall, Mint reported. Here are the required documents and a guide for you to file ITR: Required documents: Form 16 Fore 16A Form 26AS Capital gains statements Medical insurance statement, if applied Tax saving investment proof PAN Card How to log in to file ITR: First, visit the Income Tax e-Filing portal and login entering your user ID (PAN), password and captcha code. Then click on the "e-File" menu and click on the "Income Tax Return" link. After this choose the Income Tax Return (ITR) form. As you are a salaried taxpayer having Form-16, you can choose either ITR-1 or ITR-2. Then select the assessment year (AY) for which you want to file your taxes, i.e. 2023-2024. After doing so, check all your details thoroughly and proceed further in the form by clicking on 'submit.' When done with submitting your return, e-verify it by using other options such as Aadhaar OTP etc. Upload the e-verified return. But what if your details vanish while submitting the returns? Many of the netizens tweeted the following, to which Income Tax India responded by saying to retry after clearing the browser cache. Hi team, The Income Tax portal is not working and every single process is taking too much time and sometimes I have already filed details vanish after proceed further. Please consider the same and resolve the issue ASAP. @IncomeTaxIndia @nsitharamanoffc pic.twitter.com/xJakCrAgrA — Navdeep Gupta (@navdeepgupta100) July 30, 2023 × What if you miss the ITR deadline? Though one shouldn't miss the ITR deadline by being a responsible citizen by paying taxes on time, some do fail to do so. In such case, a maximum penalty of Rs 5,000 ($60) will be levied if the taxpayer file ITR after the deadline (July 31). However, for those whose total income does not exceed Rs 500,000 ($6,081) in a fiscal year are to pay Rs 1,000 ($12.16) in case of filing taxes after the deadline. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

ITR Filing Last Date: Check how to file taxes online using these easy steps, here's all you need to know

Finance Minister Nirmala Sitharaman announced a tax filing waiver for senior citizens during the tabling of Union Budget 2021 in the Lok Sabha.

Budget 2021: No ITR filing for senior citizens aged 75 years and above earning only pension

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Budget 2021: No ITR filing for senior citizens aged 75 years and above earning only pension