Many individual taxpayers whose income tax filing last date was missed on 31 July 2026 are now checking whether they can still file. As per SaveTaxs, that was the due date for non-audit individuals using ITR-1 or ITR-2 for AY 2026-27, and a belated return can still be furnished until 31 December 2026 or before the assessment is completed, whichever is earlier.
The other categories had later dates. Non-audit business and professional taxpayers filing ITR-4 had 31 August, audit cases have 21 November after the extension from 31 October, and transfer pricing cases have 30 November.
What the late fee costs
Individuals who file after the due date will have to pay a late fee under Section 234F of the Income Tax Act. The amount depends on the income of the taxpayer.
As per the Easy Office Software blog, the fee is Rs 5,000 where the total income exceeds Rs 5 lakh. For those whose total income is up to Rs 5 lakh, the fee is Rs 1,000.
No fee under this section applies if the total income is below the taxable limit, so many small earners will not have any late fee to pay.
TaxBuddy says the fee becomes payable at the time the return is filed, so the amount has to be cleared before the belated return is submitted.
Interest and lost benefits
Alongside the late fee, interest under Section 234A of the old Act applies when a return is filed late. Salaried taxpayers often think only of the fee, but this interest is charged separately, and it is added to the amount payable at the time of filing.
Late filing can also cost certain benefits, such as the carry-forward of losses, as per TaxConcept.
