Every year we see the same pattern: salaried clients rushing in the last week of July, and businesses discovering in October that the tax audit report and the return are two separate filings with two separate consequences. This note sets out the calendar for FY 2025-26 (assessment year 2026-27), what to do if you have already missed a date, and the payments that fall due before the next return.
The main due dates
| Taxpayer | Filing | Due date |
|---|---|---|
| Individuals and HUFs without business or professional income | ITR-1 / ITR-2 | 31 July 2026 |
| Individuals, HUFs and firms with business or professional income, not liable to tax audit | ITR-3 / ITR-4 / ITR-5 | 31 August 2026 |
| Businesses and professionals requiring tax audit under section 44AB (63 of the 2025 Act) | Tax audit report (Form 3CA/3CB-3CD) | 30 September 2026 |
| Companies and audit cases | ITR-3 / 5 / 6 | 31 October 2026 |
| Assessees with international or specified domestic transactions | Form 3CEB (transfer pricing report) | 31 October 2026 |
| Assessees with international or specified domestic transactions | Income tax return | 30 November 2026 |
| All taxpayers | Belated return (section 139(4); 263 of the 2025 Act) | 31 December 2026 |
| All taxpayers | Revised return (section 139(5)) — window extended by the Finance Act 2026 | 31 March 2027 |
Statutory dates under the Income-tax Act. CBDT has extended the non-audit deadline in some recent years (for AY 2025-26 it was extended to mid-September); always check the latest circular before assuming an extension applies.
Missed 31 July or 31 August? Here is what it costs
A return filed after the due date but before 31 December is a belated return. It attracts a late fee under section 234F (428 of the 2025 Act) of ₹5,000 (₹1,000 if total income does not exceed ₹5 lakh) and interest under section 234A (423 of the 2025 Act) at 1% per month on any tax that remained unpaid after the due date. More importantly, losses under the heads business/profession and capital gains cannot be carried forward from a belated return, and you lose the option to choose the old tax regime for that year if you have business income.
After 31 December, the ordinary belated window closes. The remaining route is an updated return (ITR-U), which the Finance Act 2025 now permits up to 48 months from the end of the assessment year. It comes with additional tax of 25% of the aggregate tax and interest if filed within 12 months, rising to 50%, 60% and 70% in the later years, and it cannot be used to reduce tax, claim a refund or increase a loss.
Audit cases: two filings, two deadlines
Businesses with turnover above ₹1 crore (₹10 crore where cash receipts and payments are each within 5% of the total) and professionals with gross receipts above ₹50 lakh must have their accounts audited. The audit report is uploaded by the auditor and approved by the assessee by 30 September; the return itself is due by 31 October. Filing the return without the audit report, or after the report deadline, exposes you to a penalty under section 271B (446 of the 2025 Act) of 0.5% of turnover up to ₹1.5 lakh. If your business has transactions with associated enterprises abroad, Form 3CEB must be certified by 31 October and the return may be filed up to 30 November.
Advance tax for the current year
While closing FY 2025-26, do not lose sight of FY 2026-27. Advance tax is payable where the estimated liability exceeds ₹10,000: 15% by 15 June, 45% by 15 September, 75% by 15 December and 100% by 15 March. Shortfalls attract interest under sections 234B (424 of the 2025 Act) and section 234C (425 of the 2025 Act). Salaried individuals with significant capital gains, rental income or interest should check whether TDS alone covers the liability — it usually does not.
Before you file: a short checklist
- Download and reconcile Form 26AS, the Annual Information Statement (AIS) and the Taxpayer Information Summary (TIS); give feedback on incorrect entries in AIS before filing.
- Compare the old and new regimes with actual numbers — the new regime is the default and the choice for business income is made in Form 10-IEA.
- Report foreign assets and income in Schedule FA and FSI if you held them at any time during the calendar year 2025; non-disclosure attracts a ₹10 lakh penalty under the Black Money Act.
- Verify the return within 30 days of filing — an unverified return is treated as not filed.
If you have missed a deadline or are unsure which form applies, get in touch; a belated return filed correctly now is far cheaper than a notice later.
Tax, GST and business setup advisors — Mumbai and Thane. Contact us to discuss your situation.
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