ITR deadline: July 31 crucial for tax filing
The 31 July 2026 deadline applies to salaried taxpayers and non-audit cases for filing ITR for AY 2026-27.
Late filing beyond 31 July attracts late filing fees, interest on unpaid taxes, and loss of benefits like carrying forward capital losses.
Different taxpayer categories have different due dates: non-audit business returns by 31 August, tax audit cases by 31 October, and transfer pricing cases by 30 November.
Belated returns can be filed until 31 December 2026, but the ability to carry forward capital losses is forfeited if the original deadline is missed.
The 31 July deadline is critical for salaried individuals to preserve tax benefits and avoid additional costs.
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