Archive · 1 Sep 2026
Who Must File Income-Tax Returns by 31 October?
Some taxpayers have to submit their income-tax returns by 31 October 2026.
This mainly includes companies and people whose accounts must be checked through a tax audit.
Certain taxpayers with international or specified domestic transactions get until 30 November.
A tax audit may be required when a business has high turnover or when a professional has high receipts.
Missing the deadline can lead to a late fee, interest on unpaid tax, and difficulty carrying forward some losses.
A late return can usually still be filed by 31 December 2026.
The fee is ₹1,000 for people whose total income is up to ₹5 lakh and ₹5,000 for others.
Taxpayers can submit returns through the official e-filing portal and must complete e-verification.
Companies and taxpayers whose accounts require audit generally must file AY27 returns by 31 October 2026.
Taxpayers covered by transfer-pricing rules under Section 92E have until 30 November 2026.
Tax audits generally apply above ₹1 crore in business turnover, or ₹10 crore when cash transactions stay within 5%.
Professionals generally face a tax-audit threshold of gross receipts exceeding ₹50 lakh, subject to other conditions.
Belated returns can be filed by 31 December 2026, with fees of ₹1,000 or ₹5,000 depending on income.
- Who
- Companies, audited non-corporate taxpayers, partners of audited firms, and certain spouses of such partners must generally meet the 31 October deadline.
- What
- The article explains AY27 income-tax return deadlines, tax-audit thresholds, late-filing consequences, and online filing options.
- When
- The main deadline is 31 October 2026; transfer-pricing taxpayers have until 30 November 2026, and belated returns can be filed until 31 December 2026 or completion of assessment, whichever is earlier.
- Where
- Returns can be filed through the official Income Tax Department e-filing portal.
- Why
- The deadlines are statutory filing requirements, and missing them may trigger late fees, interest, and restrictions on carrying forward certain losses.
- Returns filed
- More than 7.8 crore ITRs had been filed for FY26/AY27 by 31 August, according to the tax department.
- 31 October deadline
- Applies generally to companies and taxpayers whose accounts are required to be audited, including partners of audited firms.
- Transfer-pricing deadline
- Taxpayers covered by Section 92E have until 30 November 2026.
- Business audit threshold
- Businesses generally require audit when sales, turnover, or gross receipts exceed ₹1 crore.
- Higher business threshold
- The threshold rises to ₹10 crore when cash receipts and cash payments do not exceed 5% of their respective totals.
- Professional audit threshold
- Professionals generally face an audit threshold of gross receipts exceeding ₹50 lakh, subject to other tax-law conditions.
- Belated-return fee
- The fee is ₹1,000 when total income does not exceed ₹5 lakh and ₹5,000 in other cases.