ITR 2025-26: Deadlines
The Income Tax Department has released ITR forms for Assessment Year 2026-27. Whether you are filing for the first time or correcting an old return, knowing the key deadlines can save you thousands in penalties and interest charges. This guide breaks down every important date and what happens if you miss them.
Missing your ITR deadline by just one day can cost you ₹5,000 as a late filing fee — that is roughly 25 cups of coffee at a café or 3 months of your Netflix subscription, gone for nothing.
If you miss the July 31 deadline, you could pay up to ₹5,000 extra just for filing late — on top of any interest owed on unpaid tax.
Key Takeaways
File your ITR before July 31, 2025 to avoid the late filing fee of up to ₹5,000 — if your income is below ₹5 lakh, the penalty is capped at ₹1,000, so check your slab before panicking.
Paid advance tax? Make sure your four instalments (June 15, September 15, December 15, March 15) are on track — missing these attracts 1% monthly interest under Section 234B and 234C, which adds up fast over a full year.
Made a mistake in your already-filed return? Use the Revised Return option (available until December 31, 2025 for AY 2026-27) to correct errors — this is far cheaper than facing a notice from the tax department later.
Every year, millions of salaried Indians treat the ITR deadline like a dentist appointment — they know it is coming, but they delay until it hurts. For Assessment Year 2026-27 (income earned in FY 2025-26), the ITR forms are already out, which means you can start filing right now instead of scrambling in July.
The most important date on your calendar is July 31, 2025. This is the last day for salaried employees and individuals (whose accounts do not require auditing) to file their original returns without a penalty. Miss this, and Section 234F kicks in — a flat late fee of ₹5,000. If your total income is below ₹5 lakh, this is capped at ₹1,000, but why pay even that unnecessarily?
If you are self-employed or earning freelance income, advance tax is your responsibility. The tax department expects you to pay tax in four instalments through the year — 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15. Falling short on any instalment triggers interest at 1% per month under Sections 234B and 234C. Over 12 months, that quietly adds thousands to your tax bill.
Filed your return and realised you entered the wrong bank account or forgot to declare a fixed deposit? Do not worry — you can file a Revised Return anytime before December 31, 2025. There is no penalty for revising, so it is always better to correct than to ignore. For older years (up to AY 2022-23), an Updated Return under Section 139(8A) is still available, though it comes with an additional tax of 25–50% on the outstanding amount.
Use a platform like GoCredit to stay on top of your financial obligations — from tracking your credit health to finding the best loan offers when you need them. Pro tip: download your Form 26AS and AIS (Annual Information Statement) from the income tax portal before filing — these show all TDS deducted and income reported against your PAN, and cross-checking them can save you from costly mismatches and tax notices.
Plan Your Tax Filing
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