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Income Tax Return (ITR) Due Date FY 2025-26
Ensuring timely compliance with the Income Tax Act, 1961, is critical for maintaining fiscal discipline and avoiding the financial impact of interest and penalties. As we transition into Assessment Year (AY) 2026-27, taxpayers must align their financial reporting with the statutory deadlines prescribed under Section 139(1).

This advisory serves as a technical roadmap for individual and corporate taxpayers to navigate the upcoming filing season with precision.

I.Comprehensive Due Date Schedule for AY 2026-27

The Income Tax Department mandates specific deadlines based on the category of the taxpayer and the requirement for a statutory audit.

Income Tax Return (ITR) Due Date FY 2025-26

It is important to note that the extension to 31st August 2026 is a specific amendment applicable from AY 2026-27 for non-audit business cases and trusts.

Income Tax Return (ITR) Due Date FY 2025-26 for Individuals and Salaried Taxpayers

Resident and non-resident individuals, including salaried employees, pensioners, and individuals with income from house property, capital gains, or other sources, not subject to tax audit, must file their return on or before  31 July 2026.

Income Tax Return (ITR) Due Date FY 2025-26 for Taxpayers involved in non-audit business cases and Trusts.

Individuals, HUF, LLP & Partnership Firm, including Partners, AOP, BO,I not subject to tax audit, must file their return on or before 31 August 2026.

Income Tax Return (ITR) Due Date FY 2025-26 for Businesses and Professionals Liable to Audit

Taxpayers whose accounts are required to be audited under:

1. Section 44AB of the Income-tax Act, or
2. Any other law (such as the Companies Act),
   must file their return on or before 31 October 2026.

Income Tax Return (ITR) Due Date FY 2025-26 for Transfer Pricing Cases

Taxpayers entering into international transactions or specified domestic transactions and required to furnish Form 3CEB must file their ITR by 30 November 2026.

Belated Return – Section 139(4)

If a taxpayer fails to file the return within the original due date under Section 139(1), a belated return can be filed on or before 31^st December 2026.

Key Implications:

1. Late filing fee under Section 234F
2. Interest under Section 234A
3. Restriction on carry forward of certain losses

Revised Return – Section 139(5)

Any omission, error, or incorrect statement in the original or belated return can be rectified by filing a revised return on or before 31^st March 2026. A revised return replaces the original return and can be filed multiple times within the permitted timeline.

II.Consequences of Non-Compliance and Delayed Filing

Missing the primary filing deadline triggers a series of statutory implications that can affect a taxpayer’s liquidity and legal standing.

Mandatory Fee for Default (Section 234F)

Filing a return after the deadline attracts a late filing fee:

1. INR 5,000 if the return is filed after the due date.
2. INR 1,000 if the total income does not exceed INR 5 Lakhs.

Interest for Delay – Section 234A

Interest at 1% per month or part thereof is levied on the outstanding tax liability from the due date till the date of actual filing.

Loss of Benefits

Restrictions on Carry Forward of Losses: This is one of the most significant consequences. If a return of loss is filed after the due date prescribed under Section 139(1), the taxpayer loses the right to carry forward certain losses to subsequent years. This includes:

1. Normal business loss (under Section 72(1))
2. Speculation business loss (under Section 73(2))
3. Specified business loss (under Section 73A(2))
4. Capital loss (under Section 74(1))
5. Loss from the activity of owning and maintaining racehorses (under Section 74A(3)) [6]
6. Exception: Loss from House Property and unabsorbed depreciation can be carried forward even if the return is filed late. [6]

Delayed Refunds

If a taxpayer is eligible for a refund, filing the ITR late will lead to a delay in the processing and receipt of the refund amount

Regime Selection and Deductions

Under the current tax structure, the New Tax Regime is the default. If you wish to opt for the Old Tax Regime (to claim deductions like 80C, 80D, or HRA), you must generally exercise this choice within the original filing deadline. Late filers may be restricted to the default regime, potentially leading to a higher tax outflow.

Timely filing ensures compliance, preserves tax benefits, and avoids unnecessary financial exposure