Synopsis: Salaried Individual ITR filing for FY 2025-26 (AY 2026-27) deadline is 31st July 2026. This article details the applicable ITR Forms, the implications associated with late filing of ITRs, the rule for filing revised returns and important changes to be aware of.
Salaried employees, pensioners, those making capital gains without having business income form part of the largest group of taxpayers filing returns under ITR. Being able to do the filing in the appropriate form within the due date and rectify the mistakes, is an additional factor to ease the whole process and prevent penalization.
Who Files ITR-1 and ITR-2?
ITR-1(Sahaj) is for resident individuals with salary and pension income from a maximum of two house properties, interest and other specified sources with total income up to ₹50 lakh. ITR-2 is for individuals and HUFs who do not have any business income but have capital gain, more than 2 house property, foreign income/asset, income exceeding ₹50 lakh, working as director of a company, agricultural income exceeding ₹5,000 etc.
ITR Filing Due Date for Salaried Individuals
Income Tax Return (ITR-1/ITR-2) for salaried persons, pensioners, taxpayers who gain capital but have no business income should be filed by 31st July 2026 for FY 2025-26 (AY 2026-27).
Note: Filing the return after 31st July 2026 will be treated as a belated return and may attract late fees and interest.
What Happens If You Miss the 31st July Deadline?
If you miss your original deadline, you may make use of a Belated Return under Section 139(4) any time before the 31st December 2026. However, this will be subject to certain drawbacks:
- Late filing fee under Section 234F: ₹1,000 if total income does not exceed ₹5 lakh, ₹5,000 in all other cases, and no fee if total income is below the basic exemption limit (subject to applicable filing requirements).
- Rate of Interest under Section 234A: 1% per month (or part thereof), on the amount of tax outstanding, from the day it is originally due up to the day when the return is actually filed.
- Impact on Tax Regime Choice: Filing a belated return locks you into the new tax regime for that year, regardless of whether you have business income or not. To keep the old regime available, you must file your original return by 31st July.
- Delayed Refunds: In case of refunds due to a taxpayer, late filing delays processing, and also causes problems for loans or visas that require proof of compliance.
Made a Mistake After Filing? Revised Returns
Made an error in your initial tax return form, forgot to make a deduction, filled in wrong information about income, or even an incorrect bank account? Filing of a Revised Return can be done through Section 139(5).
- Deadline: 31st March 2027 for AY 2026-27 (Budget 2026 extended this from the earlier 31st December cut-off).
- A revised return can be filed even if the original return was itself belated.
- There is no limit to how many times you can revise, as long as it’s within the deadline.
- Important: If you revise your return after 31st December 2026 (i.e., between 1st January and 31st March 2027), a new fee under Section 234I applies — ₹1,000 if income is up to ₹5 lakh, ₹5,000 otherwise. Revising before 31st December remains free.
Also read: New EPFO Portal 2026: 13 Major Changes for PF Members – Faster Claims, Smarter Processing & More
Missed Everything? Updated Return (ITR-U)
In case the taxpayer misses both deadlines for filing the return, the Updated Return can be filed under Section 139(8A) up to 48 months from the end of the respective Assessment Year. In relation to AY 2026-27, the deadline would be March 31, 2031. However, Updated Return can only be used for payment of additional tax and not for claiming any additional refunds/deductions.
What’s New for Salaried Taxpayers This Year (AY 2026-27)
- The number of house properties has been increased from one to two, with ITR-1 now being applicable for a second house property in addition to the first (earlier it could be only one).
- The disclosure of assets & liabilities (Schedule AL) now starts at a higher amount of ₹1 crore, earlier it had started at a lower amount (reducing the compliance burden for many taxpayers).
- The new tax regime under Section 115BAC remains the default regime for FY 2025-26. Salaried taxpayers without business income can choose between the old and new tax regimes directly while filing their ITR.
Documents Required Before Filing ITR
Before starting the filing process, taxpayers should keep the following documents ready:
- PAN card and Aadhaar card
- Form 16 (from employer)
- Bank statements
- Salary slips
- Investment proofs for deductions (80C, 80D, etc.)
- Home loan interest certificate (if applicable)
- Capital gains statements (for stocks/mutual funds/property sales)
- Details of any other income sources (interest, dividends, etc.)
Bottom Line
Salaried Taxpayers can easily avoid the chances of paying any late fees, Interest and compliance issues by filing the ITR before 31st July 2026. Being prepared, verifying Form 16 and AIS information and choosing the appropriate tax regime can make the process smoother.
