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Tax & Budgetmint - money
·mint - money

ITR Deadline July 31: Your ₹5,000 Fine Starts Aug 1

The ITR filing deadline is July 31 and tax experts say no extension is coming this year. If you miss it, you pay a late fee of up to ₹5,000 and lose some tax benefits. File now — don't wait.

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Did you know?

That ₹5,000 late fee equals 100 cups of chai — gone for just filing late

Impact on You
31 July

Miss this ITR deadline and you pay ₹5,000 in late fees — no extension expected

Key Takeaways

1

Log in to incometax.gov.in right now and check if your Form 26AS and AIS (Annual Information Statement) match your income records.

2

Collect all documents today — Form 16 from employer, bank interest certificates, home loan statements, and 80C investment proofs.

3

File your ITR before July 25 to avoid last-minute portal crashes and technical errors that spike in the final days before the deadline.

Share:

The ITR filing deadline is July 31 and tax experts say no extension is coming this year. If you miss it, you pay a late fee of up to ₹5,000 and lose some tax benefits. File now — don't wait.

Here's what happened: ITR filing pace for FY 2024-25 is slower than usual, with most taxpayers yet to submit their returns ahead of July 31.. Tax experts say the government is unlikely to extend the deadline this year, unlike pandemic-era extensions that many taxpayers got used to.. Missing the July 31 deadline triggers a late filing fee under Section 234F — up to ₹5,000 — plus interest on any tax dues under Section 234A..

What you should do: Log in to incometax.gov.in right now and check if your Form 26AS and AIS (Annual Information Statement) match your income records.. Collect all documents today — Form 16 from employer, bank interest certificates, home loan statements, and 80C investment proofs.. File your ITR before July 25 to avoid last-minute portal crashes and technical errors that spike in the final days before the deadline..

If your income is below ₹5 lakh, your late fee is capped at ₹1,000 — but you still lose the right to carry forward capital losses if you file late.

File Your ITR Now

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References

  1. [1]
    ITR filings move at a slow pace as deadline nears: Expert explains why an extension beyond 31 July is unlikely this year mint - money · 7 Jul 2026

This article is reported by GoCredit's Editorial Team based on the source above. GoCredit synthesises, contextualises, and adds India-borrower-relevant analysis. We are not the original publisher.

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