Due dates for FY 2025-26 (AY 2026-27)
Returns for income earned in FY 2025-26 are the last filed under the Income-tax Act, 1961. The Finance Act, 2026 set different due dates depending on whether you are liable to tax audit.
| Taxpayer | Due date |
|---|---|
| ITR-1 / ITR-2 filers with no business income | 31 July 2026 |
| ITR-3 / ITR-4 filers not liable to tax audit | 31 August 2026 |
| Tax audit report (for audit cases) | 30 September 2026 |
| Taxpayers liable to tax audit, and partners of audited firms | 31 October 2026 |
| Transfer pricing cases | 30 November 2026 |
| Belated return | 31 December 2026 |
| Revised return | 31 March 2027 |
Missed 31 July or 31 August? You can still file a belated return by 31 December 2026, with a late fee of up to ₹5,000 (₹1,000 where total income is up to ₹5 lakh) and interest on unpaid tax. A belated return is filed under the new regime, and business losses cannot be carried forward. After that, an updated return (ITR-U) with additional tax is the remaining route.
Who we file returns for
- Salaried individuals: Form 16 reconciliation with AIS and Form 26AS, HRA and deductions, old vs new regime comparison, and multiple employers.
- Capital gains: shares and mutual funds, property sale with indexation choice for pre-July 2024 purchases, exemptions under sections 54, 54F and 54EC, buybacks and ESOP/RSU sales.
- Traders: F&O and intraday as business income, turnover computation and the tax audit test.
- Crypto and virtual digital assets: 30% tax, no set-off of losses and Schedule VDA reporting.
- Professionals and small businesses: presumptive taxation under sections 44ADA and 44AD, or regular books.
- NRIs and returning residents: residential status, foreign income and assets, DTAA relief and TDS refunds on property sales.
- Firms, LLPs, companies and trusts: ITR-5, ITR-6 and ITR-7 with tax audit coordination.
How the return is prepared
- Pre-filing check: download AIS, TIS and Form 26AS and compare them with your documents. Most notices under section 143(1) come from income shown in AIS but missing in the return.
- Computation: tax under both regimes where you have a choice, with capital gains, set-off of losses and advance tax interest under sections 234A, 234B and 234C.
- Review: a draft computation is shared with you before filing.
- Filing and verification: the return is filed and e-verified (Aadhaar OTP or net banking). Verification must be done within 30 days of filing; a return that is never verified is treated as invalid.
- After filing: the intimation under section 143(1) and the refund status are tracked, and any mismatch is handled.
Documents checklist
- PAN, Aadhaar and bank account details (for refund).
- Form 16 / 16A, salary slips, rent receipts and deduction proofs (for the old regime).
- Broker capital gains statements, mutual fund statements, property purchase and sale deeds.
- Interest certificates, home-loan interest certificate, dividend details.
- For business: profit and loss account, balance sheet, bank statements and GST returns.
- For NRIs: passport stay details, foreign income and tax paid, and Tax Residency Certificate where relying on a DTAA.
What changes from tax year 2026-27
The Income-tax Act, 2025 applies to income earned from 1 April 2026. “Tax year” replaces “previous year” and “assessment year”, section numbers change (for example, presumptive taxation moves to section 58), and forms are renumbered. Slab rates for 2026-27 are unchanged. Advance tax for the new tax year should already be planned on the new provisions. See section 44AD is now section 58.
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