ITR Due Dates 2026 and the Cost of Missing Them — 31 August, 31 October and 30 November Deadlines, Belated and Revised Returns Till 31 December, the ₹1,000 / ₹5,000 Late Fee, Interest Under 234A, Losses You Cannot Carry Forward, the Updated Return (ITR-U) Window, Who Must File Even Without Tax, and the Real Benefits of Filing
31 Aug 2026
Due date for individuals, HUFs and non-audit businesses (FY 2025-26) — extended from 31 July this year
31 Dec 2026
Last date for a belated or revised return for the year
₹5,000
Late fee under 234F after 31 August (₹1,000 if total income is up to ₹5 lakh)
48 months
Window for an updated return (ITR-U) after the end of the assessment year
Guide by BookMyCA's Chartered Accountants · pan-India serviceLast verified against official guidelines on 7 September 2026.
Video Explanation & Insights
What you lose by not filing your ITR
4 videos on this topic
The due dates for FY 2025-26
| Taxpayer | Return due | Notes |
|---|---|---|
| Individuals, HUFs, salaried, pensioners, small businesses and professionals not under audit | 31 August 2026 (extended from 31 July for AY 2026-27) | Extended in some years by CBDT circular; do not plan on it — the channel's short says exactly that |
| Businesses and professionals under tax audit (section 44AB), partners of audited firms, companies | 31 October 2026 | Tax audit report (3CA/3CB-3CD) by 30 September 2026 |
| Taxpayers with international or specified domestic transactions (Form 3CEB) | 30 November 2026 | 3CEB by 31 October 2026 |
| Trusts and institutions (ITR-7) | 31 October 2026 | Form 10B/10BB audit by 30 September |
| Belated return (139(4)) / revised return (139(5)) | 31 December 2026 | Whichever is later of 3 months before the end of the assessment year or completion of assessment |
| Updated return (139(8A), ITR-U) | Up to 31 March 2031 (48 months from the end of AY 2026-27) | Additional tax 25% / 50% / 60% / 70% by year of filing; not for loss returns or refunds |
Filing is compulsory even with no tax in these cases
- •Total income (before deductions and exemptions such as 54/54F, and before the 87A rebate) exceeds the basic exemption — ₹4 lakh under the new regime; ₹2.5/3/5 lakh under the old regime by age. Income up to ₹12 lakh is tax-free under the new regime, but a return is still required above ₹4 lakh.
- •Seventh proviso to 139(1): deposits above ₹1 crore in current accounts (₹50 lakh in savings accounts from AY 2023-24), foreign travel spend above ₹2 lakh, electricity bills above ₹1 lakh, or business turnover above ₹60 lakh / professional receipts above ₹10 lakh, or TDS/TCS of ₹25,000 or more in the year (₹50,000 for senior citizens).
- •Residents holding any foreign asset or signing authority in a foreign account, or with foreign income — regardless of amount.
- •Companies and firms — always, even with nil income; LLPs too.
- •Anyone claiming a refund of TDS, or carrying forward a loss (a loss return must be filed by the due date to preserve the loss).
- •Anyone wanting the old regime with business income (Form 10-IEA plus a return within the due date).
What missing 31 August costs
| Consequence | Detail |
|---|---|
| Late fee — section 234F | ₹5,000 if filed after the due date up to 31 December; ₹1,000 if total income does not exceed ₹5 lakh; nil if income is below the basic exemption and filing is not otherwise mandatory |
| Interest — section 234A | 1% per month or part on the unpaid tax from the due date to the filing date |
| Interest — 234B/234C | For short or late advance tax, regardless of the filing date |
| Losses | Business, capital and speculative losses of the year cannot be carried forward in a belated return (house-property loss and unabsorbed depreciation still can) |
| Regime | A belated return is assessed under the new regime — the old-regime option is lost for the year |
| Refund interest | Section 244A interest runs from the filing date instead of 1 April for a belated return |
| Deductions | Section 80-IA to 80-IE, 10AA and some other deductions are allowed only in a return filed by the due date (section 80AC) |
| After 31 December | No belated return at all — only an updated return with 25–70% additional tax, and only if it results in tax payable; a loss or refund return cannot be filed; the department may issue a 142(1) notice or best-judgement assessment with penalty |
| Prosecution | Section 276CC for wilful failure to file when tax evaded exceeds ₹25 lakh — 6 months to 7 years; below that 3 months to 2 years (not applied where tax due after TDS is within ₹10,000) |
What a filed return does for you — the channel's four points and more
- •Loans: banks and NBFCs underwrite home, business and vehicle loans on two to three years of filed returns; the ITR-V and computation are the income proof — no return, no loan (or a loan on a co-applicant's income).
- •Cash explanations: cash seized in a police or election check, or questioned in a search, is released against the cash balance your returns and books support — the video's second point.
- •Building 'white' capital: income declared and taxed can be gifted to relatives tax-free, invested, and used to buy property without a source-of-funds problem later.
- •Visas: most embassies ask for three years' ITRs; so do tender authorities, and so does the GST department when reconciling turnover.
- •Refunds of TDS deducted by banks, employers and clients — only a return gets the money back.
- •Carry-forward of losses (capital, business, speculative) for eight years — the single biggest value of filing on time for investors and traders.
- •Insurance claims and compensation (motor accident claims use ITR income), credit-card limits, and the Startup/Udyam scheme eligibility that ask for returns.
If you have already missed a year
- 1Before 31 December of the assessment year: file a belated return with the late fee and interest; losses (other than house property and depreciation) will not carry forward, and the regime is the new one.
- 2After 31 December: file an updated return (ITR-U) within 48 months of the end of the assessment year, paying the tax plus 25% (within 12 months), 50% (24 months), 60% (36 months) or 70% (48 months) additional tax; not allowed if it reduces tax, increases a refund or reports a loss, or where a search/survey has begun.
- 3Respond to any 142(1) notice or e-Campaign message on the compliance portal — a filed ITR-U or belated return in response usually closes it.
- 4For years beyond the ITR-U window, nothing can be filed voluntarily; keep the income computation and tax payment ready for any reassessment.
Due dates and late filing: questions we are asked
Assume no. CBDT has extended in years of portal trouble or late form releases, but the extension usually comes at the last minute and does not waive 234A interest in all cases.
Yes — ₹5,000 under 234F because total income exceeds ₹5 lakh, even though no tax is payable.
File a revised return under 139(5) by 31 December — as many times as needed, without a late fee.
Only an updated return (ITR-U) with the additional tax, until 31 March 2027 (48 months from the end of AY 2023-24), and only if it results in tax payable.
No — Chapter VI-A deductions are allowed in a belated return; what is lost is the old-regime option, loss carry-forward and the 80AC-specified deductions.
Yes — computation with fees and interest, ITR-U where it makes sense, and replies to compliance-portal messages.