‘Don’t wait for last-minute rush': All you need to know as ITR filing deadline ends tomorrow

ITR filing deadline for Assessment Year 2026-27 is July 31, 2026.

Over 5 crore ITRs have been filed so far, with over 30 lakh filed on July 29 alone.

ITR Form 1 (Sahaj) is for resident individuals with income up to ₹50 lakh from salary, one house property, and agricultural income up to ₹5,000.

Late filing incurs a penalty of ₹5,000 under Section 234F and interest under Section 234A.

Missing the deadline delays refunds, prevents carrying forward certain losses, and requires paying penalties.