<p>With the July 31 deadline for filing Income Tax Returns (ITRs) for Assessment Year (AY) 2026-27 fast approaching, taxpayers have little room for errors. From mismatched Annual Information Statement (AIS) and Form 26AS details to choosing the wrong ITR form, missing income or forgetting e-verification, small mistakes can lead to notices, refund delays or revised returns.&nbsp;</p><h2>Here are nine key checks to make before you hit ‘Submit’:</h2><h3>1. Check your personal information</h3><p>First things first: Recheck your personal details before anything else. Make sure it is accurate. It includes your name, Permanent Account Number (PAN), Aadhaar details, address, phone number and email address. Also confirm that the bank account registered for receiving your refund has been correctly added and pre-validated.</p><h3>2. Match your income with AIS and Form 26AS</h3><p>Form 16 alone may not capture every source of income. Cross-check the details in your Annual Information Statement (AIS), Taxpayer Information Summary (TIS) and Form 26AS against your own financial records to identify any discrepancies or missing entries. Tax expert Atul Anand said taxpayers should not assume that AIS and Form 26AS will necessarily show identical information. The documents should instead be checked against the taxpayer’s own records before filing.</p><p>&nbsp;</p><p>Also Read: <a href="https://www.wionews.com/business-economy/5-income-tax-deadlines-in-july-2026-you-cannot-miss-1782862968568">5 income tax deadlines in July 2026 you cannot miss</a></p><h3>3. Cross-check Form 16 with your salary details</h3><p>If you are a salaried taxpayer, carefully compare the income, exemptions and deductions mentioned in your return with the figures reported in Form 16. Any mismatch should be identified and corrected before submission.</p><h3>4. Account for income beyond your salary</h3><p>Don't overlook earnings outside your regular salary. Review interest from savings accounts, fixed deposits and recurring deposits, along with dividend earnings, rental income and other sources of income that may need to be reported. Tax expert Priya Sachdeva said taxpayers often face difficulty when they have income coming from several sources. She also highlighted confusion around selecting the appropriate Income Tax Return (ITR) form and reconciling income with AIS and Form 26AS.</p><h3>5. Recheck all deductions</h3><p>Before claiming deductions, make sure you are eligible for them and that the amounts entered in your return are correct. Pay particular attention to deductions under provisions such as:</p><p><strong>Section 80C:</strong> Eligible investments and payments</p><p><strong>Section 80D:</strong> Health insurance premiums</p><p><strong>Section 80CCD(1B):</strong> Eligible contributions to the National Pension System (NPS)</p><p><strong>Other applicable deductions:</strong> Any additional deductions for which you qualify</p><h3>6. Review your capital gains carefully</h3><p>If you have sold shares, mutual funds or other investments during the financial year, check that the resulting capital gains have been calculated and reported correctly. Make sure you have distinguished between short-term and long-term gains. Priya Sachdeva said first-time investors can particularly struggle with determining the nature of their gains, calculating the taxable amount, selecting the appropriate ITR form and reporting the details correctly.</p><h3>7. Make sure you have selected the right ITR form</h3><p>Selecting the wrong Income Tax Return (ITR) form can create problems during filing. Your choice depends on your income sources and other financial circumstances. For instance, taxpayers with certain capital gains from shares or mutual funds may need to use ITR-2 rather than ITR-1. Review your income profile carefully before choosing the form.</p><p>&nbsp;</p><p>Also read: <a href="https://www.wionews.com/trending/july-31-or-august-31-when-is-your-itr-filing-deadline-check-your-due-date-1782961806164">July 31 or August 31: When is your ITR filing deadline? Check due date</a></p><h3>8. Check your bank details for the refund</h3><p>Before filing, verify the bank account selected for receiving an income tax refund. Ensure the account is correctly linked to your profile and has been validated on the income tax portal. An incorrect or unvalidated account could delay the refund.</p><h3>9. Complete e-verification after filing</h3><p>Submitting your return is not the final step. Make sure you complete the required e-verification within the prescribed period after filing.</p><p>Atul Anand said taxpayers sometimes forget this step, which can leave the return unverified and potentially create problems with its validity.</p><h3>5 mistakes tax experts see most often</h3><p>Taxpayers commonly make these errors while filing their Income Tax Returns (ITRs):</p><ul><li>Selecting the wrong ITR form</li><li>Failing to report interest income</li><li>Incorrectly declaring capital gains</li><li>Not reconciling the Annual Information Statement (AIS) with personal records</li><li>Skipping e-verification after filing</li><li>Don't leave everything for last minute</li></ul><p>&nbsp;</p>

With the July 31 ITR filing deadline approaching, taxpayers should review key details before submitting their returns. Checking PAN and bank details, reconciling AIS and Form 26AS, verifying Form 16, reporting all income and reviewing deductions can help avoid notices or refund delays

With the July 31 deadline for filing Income Tax Returns (ITRs) for Assessment Year (AY) 2026-27 fast approaching, taxpayers have little room for errors. From mismatched Annual Information Statement (AIS) and Form 26AS details to choosing the wrong ITR form, missing income or forgetting e-verification, small mistakes can lead to notices, refund delays or revised returns. Here are nine key checks to make before you hit ‘Submit’: 1. Check your personal information First things first: Recheck your personal details before anything else. Make sure it is accurate. It includes your name, Permanent Account Number (PAN), Aadhaar details, address, phone number and email address. Also confirm that the bank account registered for receiving your refund has been correctly added and pre-validated. 2. Match your income with AIS and Form 26AS Form 16 alone may not capture every source of income. Cross-check the details in your Annual Information Statement (AIS), Taxpayer Information Summary (TIS) and Form 26AS against your own financial records to identify any discrepancies or missing entries. Tax expert Atul Anand said taxpayers should not assume that AIS and Form 26AS will necessarily show identical information. The documents should instead be checked against the taxpayer’s own records before filing. Also Read: 5 income tax deadlines in July 2026 you cannot miss 3. Cross-check Form 16 with your salary details If you are a salaried taxpayer, carefully compare the income, exemptions and deductions mentioned in your return with the figures reported in Form 16. Any mismatch should be identified and corrected before submission. 4. Account for income beyond your salary Don't overlook earnings outside your regular salary. Review interest from savings accounts, fixed deposits and recurring deposits, along with dividend earnings, rental income and other sources of income that may need to be reported. Tax expert Priya Sachdeva said taxpayers often face difficulty when they have income coming from several sources. She also highlighted confusion around selecting the appropriate Income Tax Return (ITR) form and reconciling income with AIS and Form 26AS. 5. Recheck all deductions Before claiming deductions, make sure you are eligible for them and that the amounts entered in your return are correct. Pay particular attention to deductions under provisions such as: Section 80C: Eligible investments and payments Section 80D: Health insurance premiums Section 80CCD(1B): Eligible contributions to the National Pension System (NPS) Other applicable deductions: Any additional deductions for which you qualify 6. Review your capital gains carefully If you have sold shares, mutual funds or other investments during the financial year, check that the resulting capital gains have been calculated and reported correctly. Make sure you have distinguished between short-term and long-term gains. Priya Sachdeva said first-time investors can particularly struggle with determining the nature of their gains, calculating the taxable amount, selecting the appropriate ITR form and reporting the details correctly. 7. Make sure you have selected the right ITR form Selecting the wrong Income Tax Return (ITR) form can create problems during filing. Your choice depends on your income sources and other financial circumstances. For instance, taxpayers with certain capital gains from shares or mutual funds may need to use ITR-2 rather than ITR-1. Review your income profile carefully before choosing the form. Also read: July 31 or August 31: When is your ITR filing deadline? Check due date 8. Check your bank details for the refund Before filing, verify the bank account selected for receiving an income tax refund. Ensure the account is correctly linked to your profile and has been validated on the income tax portal. An incorrect or unvalidated account could delay the refund. 9. Complete e-verification after filing Submitting your return is not the final step. Make sure you complete the required e-verification within the prescribed period after filing. Atul Anand said taxpayers sometimes forget this step, which can leave the return unverified and potentially create problems with its validity. 5 mistakes tax experts see most often Taxpayers commonly make these errors while filing their Income Tax Returns (ITRs): Selecting the wrong ITR form Failing to report interest income Incorrectly declaring capital gains Not reconciling the Annual Information Statement (AIS) with personal records Skipping e-verification after filing Don't leave everything for last minute

<p>With the July 31 ITR filing deadline approaching, taxpayers should review key details before submitting their returns. Checking PAN and bank details, reconciling AIS and Form 26AS, verifying Form 16, reporting all income and reviewing deductions can help avoid notices or refund delays</p>

Filing ITR at the last minute? 9 checks to make and 5 mistakes to avoid

<p>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.</p><p>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".</p><p><strong>Also read | </strong><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"><strong>India Income Tax Return 2026: Filing ITR this year? Here's how AI could save, or sink, your return</strong></a></p><h2><strong>New regime vs old regime: The biggest differences</strong></h2><p>The choice boils down to a simple trade-off.</p><p>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).</p><p>The new tax regime, on the other hand, offers lower tax rates but removes most of these exemptions and deductions.</p><p>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.</p><h2><strong>The old regime may work better for you if...</strong></h2><p>You could save more tax under the old regime if you:</p><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><p>For many salaried employees who maximise these benefits every year, the old regime can still result in a lower tax bill.</p><p><strong>Also read | </strong><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"><strong>ITR last date 2026: What happens if you miss deadline?</strong></a></p><h2><strong>The new regime may suit you if...</strong></h2><p>The new regime is often the simpler choice if you:</p><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><p>Many young professionals fall into this category, making the new regime financially attractive as well as easier to manage.</p><h2><strong>Can't I just use the same tax regime I used last year?</strong></h2><p>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.</p><p>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.</p><h2><strong>A few things to check before filing</strong></h2><p>Before submitting your ITR, make sure you have:</p><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><strong>The bottom line</strong></h2><p>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.</p>

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.

<p>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.</p>

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

<p>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.</p><p><br>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.</p><p>&nbsp;</p><p><strong>Also read: </strong><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></p><h3>Here are some of the key consequences of missing the deadline:</h3><h2>Late filing fee</h2><p>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.</p><h3>Interest on unpaid tax</h3><p>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.</p><h3>Delay in receiving your refund</h3><p>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.</p><h3>Trouble with carrying forward losses</h3><p>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.</p>

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.

<p>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.</p>

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

<p>The Income Tax Department has introduced a new return filing schedule for Assessment Year 2026-27, replacing the earlier system of a common deadline for most taxpayers. The deadline to file an Income Tax Return (ITR) will now depend on the taxpayer category and the ITR form being used for the income earned during the Financial Year (FY) 2025-26.</p><p>&nbsp;</p><p>Under the new system declared in Budget 2026, all the salaried employees, pensioners and individuals filing ITR-1 or ITR-2 must submit their income tax returns by July 31, 2026. Meanwhile, freelancers, consultants, professionals, proprietors, partners and taxpayers filing ITR-3 or ITR-4, including those under the presumptive taxation scheme and not requiring a tax audit, have been granted an extended deadline of August 31, 2026. The change was announced in Budget 2026.</p><p>&nbsp;</p><p><strong>Also read:</strong> <a href="https://www.wionews.com/world/not-yet-live-whatsapp-responds-after-india-halts-its-username-feature-wion-factchecks-claims-1782960984846">'Not yet live': Whatsapp responds after India halts its username feature - WION factchecks claims</a></p><h3>When taxpayers can make changes to ITR</h3><p>A significant change this year is the extension of the deadline for filing revised income tax returns. Taxpayers can now make changes to their ITR until March 31, 2027, compared with the previous cut-off date of December 31. The extended window allows extra time to fix mistakes, update deductions or address mismatches in records such as Form 26AS or the Annual Information Statement (AIS).</p><p>&nbsp;</p><p><strong>WATCH</strong>: https://www.wionews.com/videos/pok-protests-600-arrested-as-opposition-slams-pak-army-1782959243918/embedd</p><p><br>However, taxpayers must note that belated returns can only be submitted up to December 31, 2026. Filing after the prescribed deadline may result in a penalty of up to Rs 5,000 under Section 234F, along with interest on any outstanding tax liability. Delayed filing may also lead to the loss of certain tax benefits, including the ability to opt for the old tax regime and carry forward specific losses.<br>&nbsp;</p><p>Meanwhile, the deadline for deposit tax deducted at source (TDS) during the April–June 2026 quarter is July 7, allowing by the Assessing Officer to make TDS payments on a quarterly basis.</p>

The deadline to file an ITR will now depend on the taxpayer category and the ITR form being used for the income earned during the Financial Year (FY) 2025-26. All the salaried employees, pensioners, and individuals filing ITR-1 or ITR-2 must submit their income tax returns by July 31, 2026.

The Income Tax Department has introduced a new return filing schedule for Assessment Year 2026-27, replacing the earlier system of a common deadline for most taxpayers. The deadline to file an Income Tax Return (ITR) will now depend on the taxpayer category and the ITR form being used for the income earned during the Financial Year (FY) 2025-26. Under the new system declared in Budget 2026, all the salaried employees, pensioners and individuals filing ITR-1 or ITR-2 must submit their income tax returns by July 31, 2026. Meanwhile, freelancers, consultants, professionals, proprietors, partners and taxpayers filing ITR-3 or ITR-4, including those under the presumptive taxation scheme and not requiring a tax audit, have been granted an extended deadline of August 31, 2026. The change was announced in Budget 2026. Also read: 'Not yet live': Whatsapp responds after India halts its username feature - WION factchecks claims When taxpayers can make changes to ITR A significant change this year is the extension of the deadline for filing revised income tax returns. Taxpayers can now make changes to their ITR until March 31, 2027, compared with the previous cut-off date of December 31. The extended window allows extra time to fix mistakes, update deductions or address mismatches in records such as Form 26AS or the Annual Information Statement (AIS). WATCH: https://www.wionews.com/videos/pok-protests-600-arrested-as-opposition-slams-pak-army-1782959243918/embedd However, taxpayers must note that belated returns can only be submitted up to December 31, 2026. Filing after the prescribed deadline may result in a penalty of up to Rs 5,000 under Section 234F, along with interest on any outstanding tax liability. Delayed filing may also lead to the loss of certain tax benefits, including the ability to opt for the old tax regime and carry forward specific losses. Meanwhile, the deadline for deposit tax deducted at source (TDS) during the April–June 2026 quarter is July 7, allowing by the Assessing Officer to make TDS payments on a quarterly basis.

<p>The deadline to file an ITR will now depend on the taxpayer category and the ITR form being used for the income earned during the Financial Year (FY) 2025-26. All the salaried employees, pensioners, and individuals filing ITR-1 or ITR-2 must submit their income tax returns by July 31, 2026.</p>

July 31 or August 31: When is your ITR filing deadline? Check due date

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Filing ITR at the last minute? 9 checks to make and 5 mistakes to avoid

ITR deadline in 2 days: Which tax regime should you choose? A last-minute guide

ITR last date 2026: What happens if you miss deadline?

July 31 or August 31: When is your ITR filing deadline? Check due date