Income-tax returns: Check penalty for missing deadline for filing ITR — Key things to know

Income-tax returns: The I-T department has enabled Excel Utility for ITR-1 (Sahaj), ITR-2, ITR-3, and ITR-4 (Sugam), ITR-5 and ITR-7 online forms and notified all of them for assessment year 2026-27 i.e. financial year 2025-26 (AY27 / FY26). You can use the e-filing portal (https://www.incometax.gov.in/) and must register (you will need Aadhaar, PAN and other details) or log into the website with your User ID and password to do so.

Notably, the availability of excel utility means that you can prepare your returns offline before filing in the details and uploading the file digitally. You can access them here — https://www.incometax.gov.in/iec/foportal/downloads/income-tax-returns

The deadline was extended to 31 August and with the date approaching steadily, coupled with concerns over last-minute rush and possibility of technical or calculation glitches, now is the ideal time to file your returns comfortably.

While the overall e-filing process has become quicker, the process can be daunting for first-time filers. Salaried individuals overwhelmed by the process can use this checklist to ensure that they are properly prepared before filing ITR. Today, we take a look at the ITR due date, deadline for filing returns, last date for delayed ITR filing and penalty for late filing of your income tax returns.

What documents are needed to complete ITR filing?

Before filing your ITR keep the following documents ready as applicable:

• Form 16 (from current employer and former employer if you changed jobs mid-year),
• PAN Card,
• Aadhaar Card (PAN-Aadhaar must be linked),
• Investment proofs (including bank deposits, PPF deposits, etc.), home loan interest certificate, and insurance premium payment receipts.

When filing your returns, taxpayers must complete the process by e-verifying their ITR within 30 days. Failure to do so may result in your ITR refund being delayed due to “invalid” or “incomplete” process.

The I-T department has clarified that you can complete the requirement on the e-filing portal using Aadhaar OTP, net banking, or electronic verification code (EVC) generated using a pre-validated bank account or pre-validated demat account, to ensure a secure and hassle-free process.

What is the last date of filing ITR for FY26 / AY-27?

The deadline for filing your ITR without incurring penalties for delayed returns this year is 31 August 2026. You can still file a delayed ITR till 31 December 2026, but this would cost you extra based on your taxable amount.

What is the penalty for missing deadline?

While you are allowed to file delayed ITR till the year-end, please note that these filings will attract penalties between ₹1,000 and ₹10,000 depending on the duration of delay, as follows:

• For individuals with an income above ₹5 lakh, filing a belated return will incur a penalty of up to ₹5,000.
• For taxpayers with a net taxable income of ₹5 lakhs or lower, the maximum penalty for filing a belated ITR is ₹1,000.

Also, please note that the more you delay your ITR filing, such returns may lose out on certain deductions for lower tax, and would likely be subject to increased scrutiny from the Income Tax Department.

Can I file ITR for last 4 assessment years now?

You can file ITR-U, if you have missed filing your previous four years ITRs. For current year (AY27) you can file your regular ITR.

In case you miss filing the ITR within the due date u/s 139(1), you can still file your Income Tax Return, but you may be required to pay a late filing fee of up to ₹5000. Additionally, you will also be required to pay interest on the tax liability (if any).

Which ITR form should you choose?

Choose the form as per your eligibility mentioned below:

• ITR-1 form: If you are an individual with income from salary, one house property, and other sources.
• ITR-2 form: If you are an individual or Hindu Undivided Family (HUF) without business income.
• ITR-3 form: If you are an individual or HUF with income from business or profession.
• ITR-4 form: If you have presumptive income from business or profession.

If you do not know which return form to choose, click “Help me decide” under which ITR form to file and the portal will display the eligibility conditions for different ITR forms based on your taxpayer status. Read these conditions carefully, select the form that matches your eligibility, and click “Proceed to ITR filing.”