If you are reading this in late September 2026, the question is no longer which date applies to you. It is what being past it costs, and what is still open.
This post gives you the AY 2026-27 calendar, tells you which category you fell into, and then sets out exactly what a late return costs: the fee, the interest, the regime you lose and the losses that die with the year. The fee is the smallest of those four for most people.
The AY 2026-27 dates, and which have passed
FY 2025-26 income is reported in assessment year 2026-27. These are the statutory dates.
| Who you are | Section | Due date | Status on 25 September 2026 |
|---|---|---|---|
| Individual or HUF with no business or professional income and no audit requirement: salaried, pensioners, investors (salary, pension, house property, capital gains, interest) | 139(1) | 31 July 2026 | Passed |
| Business or profession, no audit required, including freelancers and proprietors | 139(1) | 31 August 2026 | Passed |
| Tax audit under section 44AB: audit report in Form 3CA or 3CB with Form 3CD | 44AB | 30 September 2026 | Due in five days |
| Transfer pricing report in Form 3CEB | 92E | 31 October 2026 | Open |
| Audit cases (ITR-3, ITR-5 or ITR-6), return | 139(1) | 31 October 2026 | Open |
| Transfer pricing cases, return | 139(1) | 30 November 2026 | Open |
| Belated return, any category | 139(4) | 31 December 2026 | Open |
| Revised return, any category | 139(5) | 31 March 2027 | Open |
| Updated return (ITR-U), any category | 139(8A) | 48 months from the end of the assessment year: 31 March 2031 | Opens 1 April 2027 |
The Finance Act, 2026 amended section 139(1) to create the 31 August date. Nothing on the portal has extended any of these dates as at 25 September 2026.
The date follows your audit position, not your form number
This is where most people get it wrong, and where the earlier version of this post was wrong too.
The split is not "ITR-1 and ITR-2 by 31 July, ITR-3 and ITR-4 by 31 August". It is:
- No business or professional income, no audit: 31 July 2026. You will usually be filing ITR-1 or ITR-2, but that is a consequence, not the rule. See ITR filing for salaried taxpayers.
- Business or professional income, no audit required: 31 August 2026. Usually ITR-3 or ITR-4. See ITR filing for business and ITR filing for freelancers.
- Audit required under section 44AB: 31 October 2026 for the return, with the audit report a month earlier. The form can still be ITR-3, or ITR-5 or ITR-6 for a firm, LLP or company. Where a transfer pricing report is needed, the return is due 30 November 2026.
So a salaried employee with a small side business had 31 August, not 31 July, even though most of her income was salary. And a proprietor whose turnover crossed the audit limit has 31 October, even though a proprietor with the same form and lower turnover had 31 August.
If you are unsure which side of the audit line you fall on, our business ITR filing page sets out the section 44AB limits. For the form itself, see which ITR form to file.
What a belated return costs
A belated return under section 139(4) is a valid return. It is not a confession and it does not by itself put you into scrutiny. It just costs more than the same return filed on time, in four separate ways. Our guide to belated and revised return filing covers the mechanics.
1. The late fee under section 234F
| Total income | Late fee |
|---|---|
| Up to ₹5 lakh | ₹1,000 |
| Above ₹5 lakh | ₹5,000 |
If your total income is below the basic exemption limit and you were not otherwise required to file, no late fee arises on a return filed within the belated window. Under the Income-tax Act, 2025, which governs Tax Year 2026-27 onwards, the same two amounts appear in section 428.
2. Interest under section 234A
Simple interest at 1% for every month or part of a month on unpaid self-assessment tax, from the day after your due date until the day you file.
The word that matters is unpaid. The interest is computed on the tax still payable after TDS, TCS and advance tax credits. If your TDS already covers your liability, or you are due a refund, section 234A produces nothing even though you are late. If you owe ₹40,000 and file on 20 October having missed 31 July, you are looking at three months of interest.
Sections 234B and 234C run separately where your advance tax was short of 90% of assessed tax, or where an instalment was short.
3. The old regime, if you have no business income
The old regime can be chosen only in a return furnished by the section 139(1) due date. A belated return for AY 2026-27 is therefore taxed under the new regime.
For anyone whose tax planning rested on 80C, 80D, HRA and section 24(b) home loan interest, this is usually the expensive part. A ₹5,000 fee is nothing beside the deductions in a return that can no longer claim them. If you have business or professional income, Form 10-IEA also had to be filed by the due date.
4. Losses you cannot carry forward
| Loss | Carry-forward period | Survives a late return? |
|---|---|---|
| Non-speculative business loss (section 72) | 8 years | No |
| Speculation loss (section 73) | 4 years | No |
| Capital loss (section 74) | 8 years | No |
| House property loss | 8 years | Yes |
| Unabsorbed depreciation | No time limit | Yes |
For a trader with an F&O or capital loss, this is almost always the biggest number on the page. A ₹6,00,000 business loss that could have sheltered profits for eight years is worth far more than the fee.
Two further points that are easy to miss. Deductions under sections 80-IA to 80-IB and exemptions under sections 10A, 10AA and 10B are refused in a belated return. And interest on your refund under section 244A is calculated from the date you actually file, not from 1 April of the assessment year, so filing late shortens the period you are paid for.
You do still get the refund itself. A belated return claims excess TDS back exactly like a return filed on time.
Beyond tax: loans and visas
Banks and visa applications usually ask for your ITR acknowledgements. A late or missing return holds up a loan file or a visa application, and it is often asked for alongside a net worth certificate.
Filing now: the two-hour version
If your return is not filed and you want it done this week, work in this order. Most of the expensive mistakes come from opening the portal before the documents are in front of you.
Gather first.
- PAN and Aadhaar, and confirm the two are linked. An inoperative PAN blocks the return.
- Form 16 from your employer, if you are salaried.
- Form 26AS and the Annual Information Statement, both from the e-filing portal. These are the two most important documents in the stack.
- Bank statements and interest certificates for the year.
- Proofs for any deduction you intend to claim: 80C, 80D and home loan interest certificates.
- Capital gains statements from your broker or fund house.
- Last year's return, as a reference for what you claimed.
Reconcile before you type. Spend ten minutes matching your income against Form 26AS and the AIS. A mismatch here is the most common cause of a notice, and it is far cheaper to fix now than to explain in eight months.
Treat the pre-filled data as a draft. Much of the return arrives pre-filled. Check every pre-filled figure against your own documents rather than accepting it. Salary, interest and TDS figures are the ones that most often need correcting.
Pay the tax before you submit. The portal computes the section 234F fee and the 234A interest. Pay the total as self-assessment tax through e-Pay Tax, then submit. A return submitted with tax outstanding is a problem you will hear about again.
Then e-verify, in the same sitting. Submitting is not filing. A return is not treated as filed until it is verified, and you have 30 days. Aadhaar OTP is the fastest route and net banking also works. People submit on the last night, close the laptop, and find out months later that the return was never valid.
After you file.
- Download and save the acknowledgement PDF.
- Check that the return shows as verified on the portal, not just submitted.
- Confirm the bank account for your refund is pre-validated on the portal.
If your return involves capital gains, business income, more than one property or foreign assets, a rushed self-filed return is a false economy. Our income tax return filing service starts at ₹999.
Missed 31 December too? The route after that
Once 31 December 2026 passes, section 139(4) closes. From 1 April 2027 the only remaining route for AY 2026-27 is an updated return under section 139(8A), which stays open for 48 months from the end of the assessment year and therefore runs to 31 March 2031.
An ITR-U costs considerably more. Additional tax under section 140B runs from 25% of the tax and interest to 70%, depending on how late you are, with a further 10% where the updated return follows a section 148 notice. An updated return cannot report a loss, reduce your tax or increase a refund. It is the safety net, not a substitute for the belated window.
The comparison is set out in our post on belated, revised and updated returns, and the additional-tax bands in the ITR-U rules post.
Already filed, but something is wrong?
File a revised return under section 139(5). You have until 31 March 2027 for AY 2026-27, or until your assessment is completed if that comes first.
A revised return replaces the original entirely, there is no limit on how many times you can revise within the window, and a belated return can itself be revised. There is no fee for revising, though tax and interest follow if the correction increases your liability.
Which Act applies: 1961 or 2025
The Income-tax Act, 2025 came into force on 1 April 2026, but it governs income from that date. Your AY 2026-27 return covers income earned up to 31 March 2026 and is filed under the Income-tax Act, 1961.
| Point | FY 2025-26 (AY 2026-27) | Tax Year 2026-27 |
|---|---|---|
| Governing Act | Income-tax Act, 1961 | Income-tax Act, 2025 |
| Filing provision | Section 139 | Section 263 |
| Late fee | Section 234F, ₹1,000 or ₹5,000 | Section 428, same amounts |
| Revised return | By 31 March 2027 | Within 12 months from the end of the tax year, section 263(5), with a fee where it is furnished after nine months |
| Updated return | Section 139(8A) | Section 263(6) |
| Return forms | ITR-1 to ITR-7 | To be notified |
The Act also replaces "previous year" and "assessment year" with a single "tax year". Returns for Tax Year 2026-27 fall due in July 2027, on the new forms once they are notified.
Meanwhile the Tax Year 2026-27 advance tax instalments clock is already running. The next instalment date is 15 December 2026, and interest under section 234C bites on a short instalment even if the return is eventually filed on time.
The mistakes that cost the most
- Waiting for an extension. Relief under section 119 is discretionary and not guaranteed. Nothing on the portal shows an AY 2026-27 extension as at 25 September 2026.
- Filing without paying the self-assessment tax. The fee and interest still stand, and the shortfall follows you.
- Choosing ITR-1 when you have capital gains. The return comes back defective under section 139(9). If a notice arrives, our income tax notice reply service handles it.
- Not e-verifying within 30 days. The return is treated as never filed and you are back where you started.
- Assuming a few days' delay is free. The section 234F fee applies from the day after the due date. There is no grace period.
- Leaving the return unfiled. Not filing at all can draw a notice under section 142(1) asking you to file, or under section 148 where income is believed to have escaped assessment.
- Filing late with a business or trading loss and not doing the arithmetic first. The loss is usually worth more than everything else on this page put together.
What to do next
If your FY 2025-26 return is not filed, the number that matters is 31 December 2026. If you filed and spotted an error, it is 31 March 2027. If you are an audit case, your audit report is due 30 September 2026 and your return 31 October 2026.
Regikart is a CA and CS firm serving 250+ clients from Kolkata (head office), Delhi and Bengaluru. We file belated and revised returns, compute the fee and interest before you pay anything, and tell you plainly where a late return has cost you a regime or a loss. See our income tax return filing service, contact us, or call or WhatsApp +91 70444 94804, or email [email protected].
Frequently asked questions
What was the ITR due date for AY 2026-27?
It depended on your category. 31 July 2026 for individuals and HUFs with no business or professional income and no audit requirement. 31 August 2026 where there was business or professional income but no audit. 31 October 2026 for audit cases, with the audit report due 30 September 2026. All except the audit dates have passed.
Can I still file my ITR for AY 2026-27?
Yes. A belated return under section 139(4) is open until 31 December 2026, or until your assessment is completed if that happens first. It attracts a late fee of ₹1,000 or ₹5,000 under section 234F and interest at 1% a month on unpaid tax under section 234A. It is a valid return and it still claims your refund.
What is the penalty for filing ITR late?
The late fee under section 234F is ₹1,000 where total income is up to ₹5 lakh and ₹5,000 above that. On top of that, interest under section 234A runs at 1% for each month or part of a month on tax still unpaid after TDS and advance tax. If no tax is outstanding, the interest is nil.
Does the 234A interest apply if I am getting a refund?
No. Section 234A interest is computed on the tax payable after credit for TDS, TCS and advance tax. If those already cover your liability, or you are due money back, there is nothing for the interest to run on. The section 234F late fee still applies.
Will I lose the old regime if I file late?
Yes, if you have no business or professional income. The old regime can be chosen only in a return furnished by the section 139(1) due date, so a belated return for AY 2026-27 is taxed under the new regime. If you have business income, Form 10-IEA also had to be filed by the due date. For anyone relying on 80C, 80D, HRA or home loan interest this is usually costlier than the fee.
Which losses do I lose by filing late?
Business losses, speculation losses and capital losses can be carried forward only if the return was filed by the section 139(1) due date. A house property loss can still be carried forward for eight years, and unabsorbed depreciation is not affected at all. For traders with F&O or capital losses, this is normally the largest cost of being late.
What if I miss 31 December 2026 as well?
The belated window closes and, from 1 April 2027, the only route for AY 2026-27 is an updated return under section 139(8A). That stays open until 31 March 2031, but it carries additional tax of 25% to 70% of the tax and interest under section 140B, and it cannot report a loss, reduce your tax or increase a refund.
Can I correct a return I have already filed?
Yes. A revised return under section 139(5) can be filed until 31 March 2027 for AY 2026-27, or until your assessment is completed. It replaces the original completely, there is no limit on the number of revisions inside the window, and a belated return can itself be revised.
ITR ki last date nikal gayi, ab kya karu?
File a belated return under section 139(4) before 31 December 2026. Pay the section 234F fee of ₹1,000 or ₹5,000 and the section 234A interest on any unpaid tax as self-assessment tax first, then file and e-verify within 30 days. If you have no business income, the return will be taxed under the new regime.
Is my return complete once I press submit?
No. A return is not treated as filed until it is verified, and you have 30 days from submission. E-verify immediately using Aadhaar OTP or net banking. A submitted but unverified return is not a filed return, and the consequences are the same as never having filed.
Do I file FY 2025-26 under the Income-tax Act, 1961 or the Act of 2025?
Under the Income-tax Act, 1961. The Income-tax Act, 2025 came into force on 1 April 2026 and applies to income from that date, which is Tax Year 2026-27, filed in 2027. Late fees, interest and belated or revised windows for AY 2026-27 all run under the 1961 Act.
Can I file without Form 16?
Yes. Form 16 makes the return easier but it is not mandatory. You can build your salary figures from payslips, your bank statements, Form 26AS and the AIS. Reconcile the three against each other before you file, because the department's copy of your income is the AIS, not your payslip.
About the author
CA Deepak Jaiswal
Founding Partner, FCA at Regikart. Want to discuss this in the context of your business?
