ITR filing after 31 July: Can you still submit your tax return? Check process, due date and other details

The July 31 deadline for filing income tax return (ITR) has now passed, and the government did not announce any further extension, in line with what most tax experts had expected. While more than 5.9 crore taxpayers managed to file their returns on time, some may have missed the deadline due to various reasons.

Missing yesterday's due date does not necessarily mean the opportunity to file an ITR is lost. Individuals and Hindu undivided families (HUFs) can still submit a belated return, although additional charges such as a late filing fee and interest on outstanding tax dues may apply.

It also must be noted that July 31 ITR filing deadline does not apply to every individual or entity. Businesses and professionals filing ITR-3 and ITR-4 (for those opting for the presumptive taxation scheme) still have time to file their returns for the assessment year 2026-27.

What to do if you missed July 31 ITR filing due date?

Taxpayers who have missed the original return filing due date are eligible to file a belated return by December 31, 2026. However, an individual must pay the late filing fee along interest on outstanding tax dues (if applicable).

• Filing belated return: If you have an income above ₹5 lakh, the penalty is up to ₹5,000. For those with an income of of ₹5 lakh or lower, the maximum late filing fee is ₹1,000.
• Having unpaid taxes: If a person owes tax, the late filing fee applies in addition to the interest charged on the pending amount under Section 234A. A simple interest of 1% per month or part of the month is charged on the unpaid tax amount, which is calculated from the applicable ITR due date for the relevant financial year until the date the return is actually filed.
• Missing the belated return due date: If you also miss the belated return deadline, then an updated return can be filed within 48 months from the end of the relevant assessment year. Except in certain circumstances, it can be filed whether or not the taxpayer has previously filed an original, belated or revised return for the relevant assessment year.

ITR deadline for businesses and professionals

The ITR deadlines for taxpayers with business or professional income earned during Assessment Year 2026-27 (FY 2025-26) depends on whether their accounts are required to be audited or not.

• Non-audit cases: The ITR filing due date is August 31, 2026.
• Tax audit cases: The return filing deadline is October 31, 2026.

These changes were introduced through the Finance Act, 2026, giving business owners and professionals more time to finalise their books and complete the income tax return filing process.

If businesses and professionals end up missing their respective due dates, they also have the provision to file a belated return by December 31, 2026.

Other consequences for not filing ITR within the original due date

Apart from the late filing fee and interest on tax dues, taxpayers also miss out on some benefits if they fail to file their return within the original due date.

According to the provisions of the Income-tax Act, you can carry forward the losses of the current year to future periods, offset against future profits, thereby reducing the total tax liability.

However, taxpayers who file a belated return are not allowed to carry forward their losses to future years, meaning they lose the opportunity to set them off against future gains. These losses include loss on sale of capital assets like properties, stocks, mutual funds, and business losses.

Those expecting a tax refund should also file their returns on time. While a belated return may still be eligible for a refund, filing before the due date helps ensure the refund is processed sooner.