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ITR Filing 2026: The deadline for filing ITR-1 and ITR-2 ended on July 31st. However, filing is still open for individuals or entities earning income from business or profession. The deadline for cases where an audit is not required is August 31st, 2026, while those whose accounts require an audit must complete the process by October 31st, 2026.

Missing the July 31st deadline may result in financial and legal consequences, depending on the circumstances, such as late filing fees and interest on outstanding tax payments. Filing early is a safer option, as high online traffic and system- issues can slow down the submission process.

Has the ITR filing deadline been extended this year?

No! The Income Tax Department has not issued any notification extending the July 31st deadline for filing income tax returns this year. The e-filing portal is functioning without any major disruptions, so there is no indication of any change in the deadline.

Can you file your ITR after July 31st?

Yes! Returns can be filed after the due date, but they will be considered belated returns. This may incur late filing fees and other consequences under the Income Tax Act. Taxpayers are advised to check the deadlines applicable to their category.

Taxpayers who fail to file their income tax returns by the deadline may incur a late filing fee. Those with a total income up to ₹5 lakh will have to pay a fine of ₹1,000, while those earning more than ₹5 lakh may have to pay a penalty of ₹5,000.

The government may take legal action against salaried taxpayers who fail to file their income tax returns by December 31, 2026. Under current tax laws, this offense carries a minimum jail term of six months to a maximum of two years. Legal action is not taken in every case for late filing. Generally, such action is initiated only when the amount of tax evaded exceeds ₹10,000.

Who may be required to pay 1% monthly interest for late ITR filing?

Interest may be charged under Section 234A for late filing of Income Tax Returns (ITR). According to the Income Tax Department, interest is charged at the rate of 1% per month or part of a month on the outstanding tax amount. This interest begins the day after the due date and continues until the return is filed.

The post ITR Filing Deadline Exceeds! There is no update on the extension, if you are unable to file your return then immediately know what to do next appeared first on Tezzbuzz.