The last date for ITR Filing 2026 is 31st July. How much will be the late fee, which ITR form to fill, how to e-verify and read the answers to 10 most important questions here.
ITR Filing 2026: If you have not filed Income Tax Return (ITR) yet, there is not much time left. Today is 15th July and for jobpersons or most taxpayers, the last date is 31st July 2026. If ITR is not filed by this date, you may have to pay late fees. Not only this, many other losses can also occur. If you also have questions in your mind that which ITR form to fill, which documents are required, how to e-verify or how much penalty will be imposed for being late, then know here the easy answers to the 10 most important questions…
What is the last date to file ITR?
If you are a salaried employee or your case does not come in tax audit, then ITR will have to be filed by July 31, 2026. Even if for some reason this date is missed, belated return can be filed till December 31, 2026, but late fees will have to be paid for this.
How much penalty will be charged if ITR is filed after July 31?
If you file ITR after the stipulated time, you may have to pay late fees. If annual income is up to Rs 5 lakh, late fee of Rs 1,000 will be charged. If the annual income is more than Rs 5 lakh, then late fees up to Rs 5,000 may have to be paid. Therefore, instead of waiting for the last date, it would be better to file the return soon.
Which documents should be kept ready before filing ITR?
- Form 16
- Form 26AS
- AIS (Annual Information Statement)
- Bank statement
- salary slip
- Home Loan Interest Certificate (if applicable)
- Rent documents (if HRA or Rental Income)
- investment related documents
Keep in mind that these documents do not have to be uploaded with ITR, but may be required in future.
How to choose the right ITR form?
Everyone’s ITR form may be different. It depends on your source of income. If your income is only from salary, pension, bank interest and house property up to the prescribed limit, then generally ITR-1 is used. But if there is business, share trading, capital gains or other types of income, then a separate ITR form may have to be filled. Choosing the wrong form can cause problems.
What new changes have happened in ITR-1 this time?
This year some important changes have been made in ITR-1. Now information about two houses can also be given in ITR-1 in some cases. A separate column has been added for unrealized rent. Some reporting rules have been further clarified. If you are filling ITR-1, check the new form carefully.
What to choose between New Tax Regime and Old Tax Regime?
At present the new tax regime is the default option. If you feel that tax saving will be more in the old tax regime, then you can choose the same option while filing ITR. Employed people do not need to fill any additional form for this in ITR-1 and ITR-2. Before filing the return, please compare your tax in both the tax systems.
Is it necessary to e-verify after filing ITR?
Yes, absolutely. Just submitting ITR is not enough. He is also required to e-verify within 30 days. E-verification can be done through Aadhaar OTP, Net Banking, bank account and in some banks through ATM. If e-verification is not done, your return may be considered incomplete.
What are the most common mistakes made while filling ITR?
- Fill PAN and bank account correctly.
- Combine all income from Form 26AS and AIS.
- Do not hide interest income.
- Choose the right tax regime.
- Please provide all income information.
What to do if there is a mistake in ITR?
If any mistake is detected after submitting the return, there is no need to panic. You can file revised return till 31 March 2027. This allows incorrect information to be corrected, provided the tax department’s process has not been completed.
Has the method of filing ITR changed this year due to the introduction of the new Income Tax Act?
No. The ITR to be filed for the income of FY 2025-26 will be for the assessment year 2026-27 and it will be filed as per the earlier rules. This means that this year, those filing returns do not need to follow a different procedure due to any new law.
Content Source: www.incometax.gov.in
Disclaimer: This article has been written only for general information and awareness purposes. Do not consider this in any way as legal or investment advice. Tax rules may differ depending on your personal income. Before filing your ITR or taking any major step to save tax, consult a certified chartered accountant (CA) or tax expert.