ITR filing: don’t miss these deadlines, revised timelines and key issues

Filing income tax returns for FY 2025–26 (AY 2026–27) comes with clearly defined deadlines across categories. Missing these timelines can lead to penalties and interest, making it essential for salaried individuals, businesses and audit cases to plan filings in advance.

The current year also marks a transition phase, with a new tax framework that took effect from April 1.

Key ITR deadlines for FY 2025–26

• Individuals (non-audit cases)
  Salaried employees, pensioners, investors (ITR-1, ITR-2)
  Due date: July 31, 2026

• Business/profession (non-audit cases)
  Freelancers, small businesses (ITR-3, ITR-4)
  Due date: August 31, 2026

• Tax audit cases
  Businesses and professionals requiring audit
  Due date: October 31, 2026

• Belated return (late filing)
  Applicable across categories
  Due date: December 31, 2026

Revised and updated return timelines

• Revised return

  • Purpose: Correct errors in filed returns

  • Deadline: December 31, 2026 (extendable up to March 31, 2027)

• Updated return (ITR-U)

  • Purpose: Declare missed income or update filings

  • Deadline: Up to March 31, 2031 (within four years from end of AY)

Key issues to watch

• Staggered deadlines introduced
  Budget 2026 has structured filing timelines to ease compliance.

• Extended audit deadline
  Audit cases now have time until October 31, 2026.

• Strict penalty framework
  Missing deadlines may attract penalties and interest under tax laws.

• Form selection matters
  Salaried taxpayers must choose between ITR-1 and ITR-2 based on income type.

• Verify only official sources
  Updates should be tracked only via the Income Tax Department portal.

Transition to new tax regime

• FY 2026–27 will be the first “tax year” under the new Income Tax Act, 2025

• The new system runs from April 1, 2026 to March 31, 2027

• Updated return forms are expected before April 1, 2027

This shift marks a structural change in India’s tax framework, making professional advice useful for accurate compliance.

Need help?

• E-filing helpdesk: 1800 103 0025 / 1800 419 0025

• Timings: 08:00–20:00 (Monday to Friday)

• Additional support available for PAN, TDS and AIS services via official channels

Taxpayers should avoid third-party platforms for sensitive information and rely only on official sources to prevent fraud.

Staying aligned with deadlines and updates will help ensure smooth filing and avoid last-minute complications.

(By arrangement with livemint.com)