Missed July 31 ITR? 2 Deadlines Can Still Save You
Over 5.9 crore Indians filed their ITR by July 31. But if you file ITR-3 or ITR-4, your deadlines are August 31 and October 31 respectively. Missing them costs you a penalty and loss of certain deductions.
Filing ITR-4 late costs ₹5,000 penalty — that's 100 cups of cutting chai wasted.
Your tax return deadline may still be open — check your form type now
Key Takeaways
Check which ITR form applies to you — salaried individuals use ITR-1 or ITR-2; business owners or freelancers typically use ITR-3 or ITR-4.
File immediately if you missed July 31 and use ITR-1 or ITR-2 — a belated return attracts a ₹5,000 late fee under Section 234F.
Avoid missing the August 31 or October 31 deadlines — late filing also means you cannot carry forward capital losses or business losses to future years.
Over 5.9 crore Indians filed their ITR by July 31. But if you file ITR-3 or ITR-4, your deadlines are August 31 and October 31 respectively. Missing them costs you a penalty and loss of certain deductions.
Here's what happened: More than 5.9 crore income tax returns were filed for AY 2026–27 before the July 31 deadline for salaried and basic filers.. Taxpayers using ITR-3 (business or professional income without audit) have an extended deadline of August 31, 2025.. ITR-4 Sugam filers — typically small business owners and freelancers using presumptive taxation — have until October 31, 2025 to file..
What you should do: Check which ITR form applies to you — salaried individuals use ITR-1 or ITR-2; business owners or freelancers typically use ITR-3 or ITR-4.. File immediately if you missed July 31 and use ITR-1 or ITR-2 — a belated return attracts a ₹5,000 late fee under Section 234F.. Avoid missing the August 31 or October 31 deadlines — late filing also means you cannot carry forward capital losses or business losses to future years..
If your income is below ₹5 lakh, the late filing penalty is capped at ₹1,000 — but you still lose the right to carry forward any losses, so file early anyway.
For readers weighing their credit and loan options, our personal loan guide and CIBIL score resources put this update in context.
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- [1]“ITR filing due date: More than 5.9 crore income-tax returns filed by 31 July, says tax department — All we know” mint - money · 1 Aug 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.