Over 3 crore ITRs already filed: What happens if you miss 31 July deadline? Tax experts explain
More than 3 crore Income Tax Returns (ITRs) have been filed as of 23 July 2026, ahead of the 31 July 2026 deadline.
Missing the 31 July 2026 deadline triggers a late filing fee under Section 234F: ₹1,000 for income up to ₹5 lakh, ₹5,000 for income above ₹5 lakh.
Delay also incurs interest at 1% per month under Section 234A, where applicable, and may cause refund delays and loss of certain tax benefits.
A belated return can be filed until 31 December 2026, but it comes with penalties and extra compliance hassle.
Tax experts advise early filing to avoid portal rush, errors, and last-minute document mismatches.
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