&imwidth=800&imheight=600&format=webp&quality=medium "July 31 or August 31: When is your ITR filing deadline? Check due date")
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.
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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).
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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.
