A look at most common income tax penalties as ITR filing deadline approaches
Any delays past the July 31 deadline, omissions, errors, incorrect disclosures or non-compliance can result in additional financial liabilities.
National · 20 updates
Any delays past the July 31 deadline, omissions, errors, incorrect disclosures or non-compliance can result in additional financial liabilities.
The deadline to file income tax returns for 2026-27 is almost here, and many taxpayers are still waiting to complete the process.
The process to file the income tax return has evolved over the last few years and the income tax portal now pre-fills a lot of your tax related information drawing from information in documents such as Form 16, Form 26AS, Annual Information Statement (AIS), bank records etc.
Step-by-step guide to file Income Tax Return online for AY 2026-27 via the official income tax portal.
A belated return can still be filed within nine months from the end of the relevant tax year. For the 2025-26 tax year, this means the return can be submitted by December 31, 2026.
The government has not announced any extension to the July 31 deadline.
New Delhi: Over 5.5 crore income tax returns (ITRs) have been filed for AY 2026-27, with over 42 lakh filed on July 30 alone, the I-T department said on Friday.The last date to file ITR 1 and ITR 2 for AY 2026-27 is July 31, 2026.ITR Form 1 (Sahaj) is a simpler forms that cater to a large number of small and medium taxpayers.Sahaj can be filed by a resident individual having annual income up to Rs 50 lakh and who has salary income, one house property, and agricultural income up to Rs 5,000 a year.ITR-2 is filed by individuals and HUFs not having income from profits and gains in business or pro
Missing the deadline could cost you more than just a late fee.
Cybercriminals are targeting taxpayers during income tax return filing season. They send fake notices via WhatsApp and use cloned tax portals. These scams aim to steal banking credentials and gain device access. Attackers use malware-laden attachments and phishing websites to deceive victims. This campaign exploits the expectation of official communications from the tax department.
More than 5.9 crore income tax returns (ITRs) were filed by taxpayers for the assessment year (AY) 2026-27 by July 31, marking the close of the due date for individuals and Hindu Undivided Families (HUFs) not requiring an audit of their accounts.The Income Tax Department shared the milestone on August 1 through a post on social media, stating that filings had crossed the 5.9-crore mark by the end of the deadline day.The July 31 due date applied to taxpayers filing ITR-1 (Sahaj) and ITR-2 whose accounts are not subject to mandatory audit. Returns filed after the deadline may attract interest an
Nearly 5.9 crore income tax returns were filed by the July 31 deadline. This number is lower than last year's extended filing period. Major tax concessions were announced during the last financial year. Taxpayers can still file returns until December with a penalty. Business income filers have different extended deadlines for their submissions.