Missed ITR Deadline? Your ₹5,000 Fine Starts Now
August 31 is the last day to file your ITR for AY 2026-27. Miss it and you pay a late fee of up to ₹5,000, lose interest on refunds, and cannot carry forward most losses. Here's exactly what changes after today.
₹5,000 late fee = roughly 10 days of chai and breakfast for a salaried Mumbaikar
Miss today's ITR deadline and you pay this penalty — minimum
Key Takeaways
File your ITR on incometax.gov.in right now even if incomplete — a filed-then-revised return is far better than a missed deadline, as you can correct errors until December 31.
Check your Form 26AS and AIS on the income tax portal to verify all TDS credits before submitting, so your refund isn't delayed due to a mismatch.
If you have business losses, capital losses, or house property losses this year, file today at any cost — missing the deadline permanently blocks your right to carry them forward.
August 31 is the last day to file your ITR for AY 2026-27. Miss it and you pay a late fee of up to ₹5,000, lose interest on refunds, and cannot carry forward most losses. Here's exactly what changes after today.
Here's what happened: August 31, 2026 is the final deadline for non-audit taxpayers to file their Income Tax Return for Assessment Year 2026-27 without a late fee.. Missing this deadline triggers a late fee under Section 234F — ₹1,000 if income is below ₹5 lakh, and ₹5,000 for everyone else — plus 1% monthly interest on any unpaid tax under Section 234A.. A belated return can still be filed until December 31, 2026, but capital loss and business loss carry-forward rights are permanently lost if the original deadline is missed..
What you should do: File your ITR on incometax.gov.in right now even if incomplete — a filed-then-revised return is far better than a missed deadline, as you can correct errors until December 31.. Check your Form 26AS and AIS on the income tax portal to verify all TDS credits before submitting, so your refund isn't delayed due to a mismatch.. If you have business losses, capital losses, or house property losses this year, file today at any cost — missing the deadline permanently blocks your right to carry them forward..
Even salaried employees with full TDS deducted should file today — a late return can delay home loan processing and visa applications since banks and embassies ask for the latest ITR as proof of income.
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- [1]“ITR filing deadline August 31 today: What happens if you miss the deadline? Know belated return and late fee rules” mint - money · 31 Aug 2026
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