Income Tax Returns: Deadlines, Penalties, and Filing Guide

Filing income tax returns (ITR) is an important task for Indian taxpayers.

The deadline for filing ITR for the financial year 2025-26 (AY27) is 31 August 2026.

If you miss this deadline, you can still file your returns until 31 December 2026, but you will have to pay a penalty.

The penalty for late filing depends on your income.

If your income is above ₹5 lakh, the penalty can be up to ₹5,000.

If your income is ₹5 lakh or below, the penalty is up to ₹1,000.

To file your ITR, you need documents like Form 16, PAN Card, Aadhaar Card, investment proofs, and more.

You can file your returns online through the e-filing portal.

It's important to e-verify your ITR within 30 days to avoid delays in refunds.

If you have missed filing ITR for the last four years, you can file ITR-U.

The Income Tax Department has made the process easier by providing Excel utilities for different ITR forms.

It's best to file your returns on time to avoid penalties and scrutiny.