The income-tax return (ITR) filing calendar has undergone a significant change from Assessment Year (AY) 2026-27. While 31 July continues to be the due date for individuals and HUFs filing ITR-1 or ITR-2 and not liable for tax audit, it is not the common deadline for all taxpayers.
The Finance Act, 2026 has introduced a separate due date of 31 August for non-audit business and professional taxpayers. The revised filing calendar aims to provide business and professional taxpayers with adequate time to comply with reporting requirements.
Filing after the due date applicable to one’s category can result in interest, late filing fees, restrictions on carrying forward certain losses, and delays in processing refunds.
Here’s a look at the key due dates for Assessment Year (AY) 2026-27:
31 July 2026: This remains the due date for individuals, HUFs, and other taxpayers whose accounts are not required to be audited. Most salaried employees and pensioners fall under this category.
31 August 2026: Individuals and HUFs who have business or professional income that is not subject to tax audit must submit their income tax return by this date. The due date is also applicable for eligible taxpayers opting for the presumptive taxation scheme who are not subject to tax audit.
31 October 2026: Taxpayers whose accounts are required to be audited under the Income-tax Act have a longer timeline to file their returns using ITR-3. This includes many businesses and professionals that are subject to tax audit requirements.
30 November 2026: Taxpayers required to furnish a report under transfer pricing provisions, including certain domestic and international transactions, generally have this extended due date.
31 December 2026: Taxpayers who are filing a belated income tax return after the original due date. But filing a belated ITR is subject to late fees.
31st March 2027: The deadline for filing revised returns has been extended from December 31 to March 31, as stated in Budget 2026. A revised return is one that is submitted in accordance with Section 139(5) in order to fix errors or omissions in the original ITR.
Updated return: After the end of AY 26–27, eligible taxpayers have up to 48 months to file an updated return. With effect from Assessment Year 2026–2027, the Finance Act 2025 extended the deadline for filing updated returns from 24 months to 48 months.
A taxpayer may file an updated return of income within 48 months after the end of the relevant assessment year, even if he has not previously filed a return for that year. With such an updated return, an additional tax of either 25% or 50% must be paid by the taxpayer.
According to the Income Tax Department, the updated return must be submitted within 12 months, between 12 and 24 months, between 24 and 36 months, or between 36 and 48 months after the end of the assessment year.
ITR-1 form: Resident individuals with income up to Rs 50 lakh from salaries or pensions, income from up to two properties, income from other sources (apart from lottery and racehorse income), agricultural income up to Rs 5,000, and specified long-term capital gains under Section 112A up to Rs 1.25 lakh are eligible to file ITR-1 (Sahaj).
ITR-2 form: Individuals (residents or non-residents) and Hindu Undivided Families (HUFs) who receive income other than that which is taxable under the head “Profits and Gains of Business or Profession” may use the ITR-2 form.
A taxpayer can file an ITR-2 form if he or she have income under the head “Salaries” or “Pension,” income from property, including more than two properties, income chargeable under the head “Capital Gains,” whether short-term or long-term, income from other sources, such as winnings from lotteries, racehorses, betting, gambling, etc., agricultural income exceeding Rs 5,000, or total income exceeding Rs 50 lakh.
Additionally, an individual must submit the Form ITR-2 if he was a director of a firm or held unlisted equity shares at any point in the relevant financial year. The last date to file ITR 2 is 31st July 2026 for AY 2026-27.
ITR-3 form: Any person or Hindu Undivided Family with income under the head “profits or gains of business or profession” who is not eligible to submit Form ITR-1 (Sahaj), ITR-2, or ITR-4 (Sugam) can use the ITR-3 form. Therefore, this form is appropriate for taxpayers who receive a share of profit as a partner in a partnership company or who have income from business or professional sources in addition to income from salaries, real estate, capital gains, or other sources. ITR-3 filing deadlines for FY 2025–26 (AY 2026–27) are August 31, 2026, for non-audit cases, and October 31, 2026, for audit cases.
ITR-4 form: A resident individual, HUF, or firm (other than an LLP) can file an ITR-4 if their income during the fiscal year did not exceed Rs. 50 lakh; their income from business and professions, which is computed presumptively under Sections 44AD, 44ADA, or 44AE; their long-term capital gain under Section 112A did not exceed Rs. 1.25 lakhs; their income from salaries or pensions, one house property, agricultural income up to Rs. 5000; interest from savings accounts, fixed deposits, income tax refund, family pension, enhanced compensation, or any other sources.
Missing the applicable deadline can have several consequences. Taxpayers may have to pay interest on outstanding tax liabilities, face late filing fees, lose the opportunity to carry forward certain losses, and experience delays in processing refunds. Filing after the due date may also require filing a belated return, which comes with additional compliance implications.
Another common misconception is assuming that everyone has the same filing deadline.
“Many taxpayers continue to believe that 31 July applies universally, while others incorrectly assume that all due dates have been extended. The correct deadline depends entirely on the nature of the taxpayer and the applicable provisions of the Income-tax Act,” said Nishant Shanker, Tax & Investments expert – Navraj Global Advisors.
Before filing, make sure you:
Identify the ITR form applicable to your income profile.
Confirm whether your accounts are subject to audit.
Verify that Form 26AS, AIS and TIS match your income disclosures.
Pay any self-assessment tax before filing the return.
Complete e-verification after submitting the return.