ITR due date and late fee: 31 July, belated and revised returns, and what you lose by filing late

Under section 263 of the Income-tax Act, 2025, as amended by the Finance Act, 2026, individuals without business or professional income (ITR-1 and ITR-2 filers) must file their return by 31 July after the tax year. For tax year 2026-27 that is 31 July 2027. People with business or professional income whose accounts do not need an audit, and partners of non-audited firms, have until 31 August. Companies and those requiring a tax audit (and partners of audited firms) have until 31 October, and transfer pricing cases until 30 November. If you miss the date, you can still file a belated return within nine months from the end of the tax year, which is 31 December 2027 for tax year 2026-27. But you pay a late fee of ₹5,000 (₹1,000 if total income does not exceed ₹5 lakh) under section 428, interest of 1% a month on unpaid tax under section 423, you lose the old regime for that year if you have no business income, and you cannot carry forward business or capital losses.

The return you file in 2026 is for FY 2025-26 (AY 2026-27) under the 1961 Act. The Finance Act, 2026 made the same changes to section 139 of the 1961 Act from 1 March 2026, so the 31 August date and the longer revised-return window already apply to AY 2026-27. CBDT Circular No. 07/2026 (28 September 2026) also extended the AY 2026-27 due date for companies and audit cases from 31 October to 21 November 2026 (audit reports to 21 October 2026). The government extends dates like this from time to time, so always check the portal.

Due dates for tax year 2026-27

Later Finance Acts may change these. Check the e-filing portal each year before relying on a date.

The late fee

Section 428 charges a fee to anyone required to file who files after the due date:

The fee must be paid before you can submit a belated return. If you were not required to file (for example your income is below the basic exemption and no other condition applies) but you file late to claim a refund, the fee generally does not apply. The return utility works this out from your figures.

Interest for late filing

Section 423 charges 1% a month or part of a month on tax that remains unpaid after the due date, from the day after the due date until you file. Interest for advance tax shortfalls (sections 424 and 425) may also apply.

Illustrative example. Tax due after TDS is ₹40,000, and you file on 20 October instead of 31 July. Months from 1 August to 20 October are three (August, September and part of October).

• Interest under section 423: ₹40,000 × 1% × 3 = ₹1,200
• Late fee: ₹5,000 (income above ₹5 lakh)
• Interest for advance tax default under section 424 also runs from 1 April, because less than 90% was paid in advance: roughly ₹40,000 × 1% × 7 months = ₹2,800

Total extra cost ≈ ₹9,000, plus any loss of the old regime.

What else you lose by filing late

• The old regime. For people without business income, the option is exercised in a return under section 263(1), filed by the due date. A belated return is taxed under the new regime. If your deductions made the old regime cheaper, the loss can be larger than the fee.
• Carry-forward of losses. Business losses and capital losses can be carried forward only if the return for the loss year is filed by the due date. A loss from house property is an exception and can still be carried forward under the old regime.
• Time. Late returns are processed later, so refunds take longer.

Belated and revised returns

• A belated return is filed after the due date but within nine months from the end of the tax year.
• A revised return corrects an original or belated return. Since the Finance Act, 2026 it can be filed within twelve months from the end of the tax year (31 March 2028 for tax year 2026-27), or before assessment is completed, whichever is earlier. A revision filed after nine months attracts the section 428(b) fee (₹1,000 if total income is up to ₹5 lakh, otherwise ₹5,000). There is no limit on the number of revisions, but each replaces the previous one.
• After that window, the main route to correct omissions is an updated return, which costs additional tax. See the updated return guide.

If you missed the deadline: what to do now

1. File the belated return as soon as possible. Interest runs month by month.
2. Pay all tax first, including interest and the fee, using self-assessment tax on the e-Pay Tax service.
3. E-verify within 30 days.
4. If you had a genuine reason, such as illness, you can ask for condonation of delay, but it is discretionary and used mainly for refund or loss claims.

Use the ITR filing checklist next year. For other common errors, see the common mistakes guide.

If you are unsure whether to file yourself or get help before the deadline, see self-filing or hiring a CA. Official due date announcements are listed in the official sources guide.

Frequently asked questions

Is the due date always 31 July?

For individuals without business income, yes under the Act (non-audit business and professional cases have 31 August), but CBDT can extend it. Check announcements on the portal in July.

My employer deducted all the tax. Do I still pay a late fee?

Yes, if you were required to file. The fee is for late filing, not unpaid tax. Interest would be nil if no tax is unpaid.

Can I file after 31 December?

A new belated return, no. If you already filed, you can still revise it until 31 March (with a fee). Otherwise only an updated return is possible, and that is not allowed if it reduces tax or claims a refund. Missed refunds may be lost unless condonation is granted.

Sources

• Income Tax Department: sections 263, 423, 424 and 428 of the Income-tax Act, 2025, and CBDT circulars on due dates
• Income Tax e-filing portal: due date announcements, return filing and e-Pay Tax