Income tax return deadlines — every date that matters
For individuals not subject to audit, the return is due by 31 July following the end of the financial year. Miss it and a belated return remains possible until 31 December, with a fee and interest. A revised return, correcting one already filed, is possible until 31 March. After that, only the updated return route remains, and it is expensive.
At a glance
- Original due date (no audit)
- 31 July following the financial year
- Belated return
- Until 31 December of the assessment year
- Revised return
- Until 31 March of the assessment year
- Updated return (ITR-U)
- Up to 48 months from the end of the assessment year
- Late fee (section 234F)
- ₹5,000, or ₹1,000 where income is within ₹5 lakh
- Interest (section 234A)
- 1% per month from the due date
Where you are right now
For the financial year 2025-26, the original due date of 31 July 2026 has passed. A belated return is available until 31 December 2026, carrying the section 234F fee and interest under section 234A running at 1% a month from 1 August.
For the current financial year 2026-27, the return will be due by 31 July 2027. Advance tax for that year is payable in four instalments during the year itself, starting 15 June 2026.
What filing late actually costs you
The fee and interest are the visible costs and are usually modest. The expensive loss is invisible: a belated return cannot carry forward capital or business losses. That right depends on the return being filed by the original due date, and it is gone permanently once the date passes.
If you had a loss-making year in the market, that is a reason to file on time, not a reason to skip filing. Eight years of set-off can be worth far more than the tax on the year in question.
The late fee is small. The loss of carry-forward is not, and it is permanent
People weigh the ₹1,000 or ₹5,000 fee against the effort of filing and decide to leave it. That calculation misses the real cost. Capital losses and business losses can be carried forward for eight years and set against future gains — but only if the return reporting them was filed by the original due date. File belatedly and the losses vanish, even though the return is accepted and processed normally. Nobody tells you at the time. It surfaces years later when you have a gain to set off against and discover there is nothing there.
Questions we get asked
The 31 July date has passed. What are my options?
A belated return until 31 December, with the section 234F fee and 234A interest. It is a normal return in every other respect, and the sooner it is filed the less interest accrues.
Can I still revise a return I already filed?
Yes, until 31 March of the assessment year, or until the assessment is completed if that comes sooner.
What if I have missed even the belated deadline?
The updated return under ITR-U remains available for up to 48 months, but it carries additional tax of 25% to 70% depending on the delay, and it cannot be used to claim a refund or reduce your liability.
Want us to handle it?
Flat ₹499 including GST for ITR-1 and ITR-4. Everything else quoted before any work starts, with no charge for the quote.