Income Tax Filing Calendar 2026–27
The implementation of the Income Tax Act, 2025 on April 1, 2026, has completely redesigned India's tax filing calendar. This landmark reform eliminates the confusing Financial Year and Assessment Year system and introduces a unified Tax Year. Below is a complete breakdown of deadlines, penalties, and compliance rules.
1. Standard ITR Filing Deadlines
For Tax Year 2026–27 (April 1, 2026 to March 31, 2027), deadlines are staggered.
Salaried Individuals & Pensioners (ITR-1 & ITR-2)
Deadline: July 31, 2027
Applicable to: Salary, house property, capital gains (no business income)
Deadline: July 31, 2027
Applicable to: Salary, house property, capital gains (no business income)
Small Businesses & Professionals (ITR-3 & ITR-4)
Deadline: August 31, 2027
Applicable to: Freelancers, presumptive taxation, non-audit cases
Deadline: August 31, 2027
Applicable to: Freelancers, presumptive taxation, non-audit cases
Audit Cases (Businesses/Corporate)
Deadline: October 31, 2027
Note: Audit report must be filed by September 30, 2027
Deadline: October 31, 2027
Note: Audit report must be filed by September 30, 2027
2. 12-Month Correction Window
Budget 2026 extends the revision period.
Revised returns allowed till March 31, 2028.
Example: Tax Year 2026–27 → Revision allowed till March 31, 2028.
Revisions after December 31 attract ₹1,000–₹5,000 fee.
3. Belated Returns & Penalties
If you miss deadlines, you can still file.
Belated Return Deadline: December 31, 2027
Late Fee (Section 234F):
≤ ₹5L → ₹1,000
> ₹5L → ₹5,000
≤ ₹5L → ₹1,000
> ₹5L → ₹5,000
Interest (Section 234A): 1% per month
4. Key Filing Dates Summary
| Category | Form | Deadline |
|---|---|---|
| Salaried | ITR-1,2 | July 31 |
| Freelancer | ITR-3,4 | August 31 |
| Audit | ITR-3,5,6 | October 31 |
| Belated | All | December 31 |
| Revised | All | March 31 |
Important Transition:
April–July 2026 → File under old Act (1961)
From April 2026 → New Tax Year system applies
April–July 2026 → File under old Act (1961)
From April 2026 → New Tax Year system applies
5. Practical Examples
Example 1: Arjun (₹15L Salary)
Deadline: July 31, 2027
Late filing → ₹5,000 + 1% interest/month
Deadline: July 31, 2027
Late filing → ₹5,000 + 1% interest/month
Example 2: Priya (₹8L Freelancer)
Deadline: August 31, 2027
Gets extra time compared to salaried individuals
Deadline: August 31, 2027
Gets extra time compared to salaried individuals
Example 3: Rohan (Revision Case)
Filed July 2027 → Can revise till March 31, 2028
Fee applies after Dec 31
Filed July 2027 → Can revise till March 31, 2028
Fee applies after Dec 31
6. FAQs
What is Tax Year?
Single system replacing FY & AY.
Single system replacing FY & AY.
Why different deadlines?
To reduce portal load and give businesses time.
To reduce portal load and give businesses time.
Miss December 31?
Cannot file unless special approval.
Cannot file unless special approval.
Revised return fee?
Nominal fee, not penalty.
Nominal fee, not penalty.
Investment deadline?
March 31, 2027.
March 31, 2027.
Audit deadline?
Sep 30 audit, Oct 31 ITR.
Sep 30 audit, Oct 31 ITR.
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