ITR Filing Deadlines AY 2026-27: Who Files by When

Finance Minister Nirmala Sitharaman announced staggered ITR deadlines in Union Budget 2026. This is a structural change from previous years when July 31 was the common deadline for almost all non-audit individual filers. For ITR filing FY 2025-26, the deadlines now differ by both taxpayer type and form used.

Which ITR Form Should You File? ITR-1 to ITR-4 Explained

Choosing the wrong ITR form is the most common mistake in ITR filing FY 2025-26. It triggers a defective return notice from the Income Tax Department, requiring you to refile. The CBDT has notified all 7 ITR forms for AY 2026-27. Here is the selection guide:

The Two-Tab Portal: The Critical Step Most People Miss This Year

The income tax portal at incometax.gov.in looks different this year. Because the Income Tax Act, 2025 came into force on April 1, 2026, the portal now shows two separate tabs:

• Tab 1 — Income Tax Act 1961 / AY 2026-27: This is for your FY 2025-26 return. USE THIS TAB for your July 2026 filing.
• Tab 2 — Income Tax Act 2025 / Tax Year 2026-27: This is for income earned from April 1, 2026 onwards. Returns under this tab will be filed from July 2027. DO NOT use this for your current filing.

Selecting Tab 2 for your FY 2025-26 return will result in a defective or invalid return, because the new Act’s return forms, section references, and data fields do not correspond to FY 2025-26 income. Even experienced tax filers have made this mistake in the first weeks of the season.

Documents Required for ITR Filing FY 2025-26

Gather all documents before opening the portal. Incomplete data leads to errors in pre-filled return fields that you may miss, causing income mismatches and potential notices.

For Salaried Employees:

• Form 16 — annual TDS certificate from employer (Parts A and B). Issue deadline: June 15, 2026.
• Form 26AS — download from incometax.gov.in. Verify TDS figures match Form 16.
• Annual Information Statement (AIS) — new consolidated income statement. Check for income not captured in Form 16 (interest, dividends, MF gains).
• Bank statements — for savings account interest income. All accounts, all banks.
• Capital gains statement — from your broker (Zerodha, Groww, Upstox, etc.) or AMC. Shows STCG and LTCG on equity, MFs, and other instruments.
• Investment proofs for deductions — LIC premium, EPF contribution certificate, PPF passbook, ELSS statements (Section 80C), health insurance premium receipts (Section 80D), donation receipts (Section 80G).
• Home loan interest certificate — from bank/NBFC, if you have a housing loan.
• HRA rent receipts — if not submitted to employer but paying rent above ₹1 lakh annually.

For Business Owners and Freelancers:

• GST returns (GSTR-1, GSTR-3B) — reconcile income with GST turnover.
• Profit & Loss Account and Balance Sheet for FY 2025-26.
• TDS certificates (Form 16A) received from clients.
• Advance tax payment challans (Challan 280) — paid in June, September, December 2025, and March 2026.
• Tax audit report (Form 3CA/3CB/3CD) — if applicable, filed by September 30, 2026.

Old vs New Tax Regime: How to Decide Before July 31

The New Tax Regime is the default for AY 2026-27. Unless you actively choose Old Regime (by ticking the option in ITR-1/ITR-2 or filing Form 10-IEA for business income), your tax is calculated at new regime rates.

Old Tax Regime — FY 2025-26 (AY 2026-27) — Individuals below 60 years:

New Tax Regime — FY 2025-26 (AY 2026-27) — All individuals (same rates regardless of age):

Old Regime is generally better if: You have significant 80C investments (₹1.5 lakh), pay HRA in a metro city, have home loan interest above ₹2 lakh, and/or pay health insurance for self and parents (80D). The combined deductions in old regime can reduce taxable income by ₹4–6 lakh for many salaried employees.

New Regime is generally better if: You have minimal investments, no home loan, no HRA, or your income is in the ₹8–12 lakh range where new regime rates are significantly lower and the 87A rebate eliminates tax altogether up to ₹12 lakh.

Complete Step-by-Step ITR Filing Process Online

Step 1: Log In to the Portal

Visit incometax.gov.in. Log in using your PAN as username and your password. If you have forgotten your password, use the ‘Forgot Password’ option and reset via Aadhaar OTP or registered mobile.

Step 2: Select the Correct Tab

On the dashboard, you will see two tabs. Select Tab 1 — Income Tax Act 1961 / AY 2026-27. Do not click Tab 2.

Step 3: Navigate to ITR Filing

Click on e-File in the top menu → Income Tax Returns → File Income Tax Return. Select Assessment Year: AY 2026-27. Select Mode: Online. Select Return Type: Original Return.

Step 4: Select Your ITR Form

The portal will recommend a form based on your income profile from AIS/TDS data. Review the recommendation and confirm or override. For most salaried employees: ITR-1 or ITR-2. For business income: ITR-3 or ITR-4.

Step 5: Verify Pre-filled Data

The portal pre-fills your salary, TDS deducted, capital gains, and bank interest from Form 26AS and AIS. Cross-check every figure against your Form 16 and broker statements. Make corrections directly in the form. Common mismatches include missing employer TDS, broker-reported STCG not matching actual gains, and bank interest discrepancies.

Step 6: Choose Your Tax Regime

The portal asks: “Do you wish to exercise the option u/s 115BAC(6) of opting out of the new tax regime?” Select Yes to use Old Regime. Select No (default) for New Regime. Use the tax calculator below before deciding.

Step 7: Enter Income Details and Deductions

Enter all income sources: salary, house property, capital gains, other sources. Then enter deductions: 80C investments, 80D premium, home loan interest under Section 24(b), and others. The portal computes taxable income automatically.

Step 8: Pay Self-Assessment Tax if Required

If tax is still payable after TDS and advance tax credit, pay self-assessment tax through e-Pay Tax using Challan 280 before submitting the return. UPI and net banking are both accepted. Enter challan details in the return.

Step 9: Submit and E-Verify Within 120 Days

Submit the return. E-verify within 120 days using Aadhaar OTP (fastest), net banking, or DSC. An unverified return is considered not filed. CBDT Notification No. 5/2022 extended the e-verification window from 30 to 120 days — but do not delay, as refund processing only starts after e-verification. Processing typically takes 15–60 days for straightforward returns.

Free Old vs New Regime Tax Calculator — Use It Right Now

Calculate your exact income tax liability under both the Old Regime and New Regime for FY 2025-26 (AY 2026-27). Enter your income and deductions to find out which regime saves you more money.

📌 Bookmark this page to use this free ITR filing calculator anytime. Consult your CA if you have capital gains, foreign income, or business income for more accurate regime comparison.

Key Deductions to Claim in AY 2026-27: Section 80C to 80U

Available only under the Old Tax Regime. These deductions reduce your taxable income directly.

Capital Gains Reporting in FY 2025-26: What Changed

Budget 2024 changed capital gains tax rates with effect from July 23, 2024. Your FY 2025-26 capital gains computation will have two periods:

• April 1, 2025 to March 31, 2026: STCG on equity/MF at 20% (Section 111A). LTCG on equity/MF at 12.5% (Section 112A). Threshold for LTCG exemption: ₹1.25 lakh.
• Pre-July 23, 2024 data: The ITR form no longer has separate fields for pre- and post-July 23 rates. All capital gains for FY 2025-26 are reported at the current rates.

For real estate: LTCG (held > 24 months) taxed at 12.5% without indexation (post-July 2024 rule). Short-term real estate gains added to income and taxed at slab rates. Capital gains on debt mutual funds are also taxed at slab rates (no special rate).

12 Common ITR Filing Mistakes and How to Avoid Them

These are the errors that generate notices, refund delays, and defective return orders — seen repeatedly across ITR filing FY 2025-26 returns processed in the first weeks of the season:

1. Selecting Tab 2 (Income Tax Act 2025) for your FY 2025-26 return. Always use Tab 1 — Income Tax Act 1961 / AY 2026-27.
2. Selecting AY 2025-26 instead of AY 2026-27. This files your return for the wrong year.
3. Filing ITR-1 when you should file ITR-2. If you have sold even one mutual fund unit with LTCG exceeding ₹1.25 lakh, or have foreign income or more than 2 house properties, ITR-2 is mandatory.
4. Not cross-checking AIS before filing. Income reported in AIS but absent from your return triggers an automated mismatch notice.
5. Claiming TDS not appearing in Form 26AS. The refund gets rejected or return is selected for scrutiny.
6. Not e-verifying within 120 days. Filing without verification means the return is treated as not filed. CBDT Notification No. 5/2022 extended this window from 30 to 120 days — but do not delay, as refund processing only begins after e-verification.
7. Missing self-assessment tax payment before submission. Submitting with unpaid tax due triggers interest under 234A and 234B.
8. Not pre-validating your bank account. Refunds cannot be credited to accounts that are not pre-validated on the portal.
9. Filing belated return and losing old regime option. After July 31, 2026, belated returns are locked into new regime.
10. Not reporting interest income from savings accounts and FDs. Banks report all interest to AIS. Unreported interest triggers notices.
11. Using 28-digit Aadhaar Enrolment ID instead of 12-digit Aadhaar Number. Only valid 12-digit Aadhaar is accepted from AY 2026-27 onwards.
12. Missing the carry-forward loss filing deadline. Capital losses can only be carried forward if the original return is filed within the due date (July/August 31). A belated return forfeits this benefit permanently.

Belated, Revised & Updated Returns: Rules and Deadlines

If you miss your original deadline, these options are still available:

Belated Return — Section 139(4)

File after the original deadline but before December 31, 2026. Penalty: ₹1,000 (income ≤ ₹5 lakh) or ₹5,000 (income > ₹5 lakh) under Section 234F. Interest under Section 234A at 1% per month on unpaid tax. Critical loss: Carry-forward of capital losses is not allowed in belated returns.

Revised Return — Section 139(5)

If you filed on time but discovered an error — a missed deduction, wrong income figure, or incorrect bank account — you can fix it by filing a revised return. Budget 2026 extended the revised return deadline from December 31 to March 31, 2027 (i.e., before expiry of AY 2026-27, or before assessment completion, whichever is earlier). You may revise as many times as needed within this window. A nominal fee of ₹5,000 applies for revisions filed after December 31, 2026. If you file a belated return by December 31, 2026, you can then revise it between January 1 and March 31, 2027 — this three-month window for belated-return revision is a new benefit under Finance Act 2026.

Updated Return (ITR-U) — Section 139(8A)

Report previously missed income within 4 years from the end of the relevant assessment year. For AY 2026-27, the ITR-U window closes on March 31, 2031. Additional tax of 25–50% applies on the incremental tax. ITR-U cannot be used to reduce your existing tax liability or claim additional deductions. However, under Budget 2026, certain carry-forward of losses is now permitted in updated returns, subject to conditions — this is a new relief that was not available under prior ITR-U rules.

Frequently Asked Questions

Key Takeaways

Conclusion

For every salaried employee, investor, freelancer, and business owner in India, ITR filing FY 2025-26 is both a compliance obligation and a financial opportunity. The opportunity lies in choosing the right tax regime, claiming all eligible deductions, and filing before July 31 — all of which can reduce your tax liability by tens of thousands of rupees. The risk lies in picking the wrong portal tab, selecting an incorrect form, missing e-verification, or filing after the deadline.

The Income Tax Act 2025 has restructured the portal and introduced a new tab structure, but your FY 2025-26 return follows entirely familiar rules under the old Act. Collect your documents by June 20, reconcile your AIS by July 1, compare your tax regimes by July 10, and file well before July 31. Do not wait for the last week — the portal experiences heavy load and technical issues every year near the deadline. File early, file correctly, and use the calculator above to ensure you are not leaving any deduction on the table.

You can also explore our related guides: TDS Updates April 2026 — New Sections 392, 393 and 394 | TDS Rate Chart FY 2026-27 | GSTR-3B Filing Guide