Income Tax Return Filing in India

As of 11 October 2026, the open deadlines are 21 October 2026 for tax audit reports, 21 November 2026 for audit-case returns, 30 November 2026 for transfer-pricing cases and 31 December 2026 for belated returns. The 31 July and 31 August dates for non-audit returns have passed.

The audit-case extension comes from CBDT Circular No. 7/2026 and the CBDT press release of 28 September 2026. The circular does not mention interest under Section 234A, so pay any balance self-assessment tax early rather than waiting for the extended date.

What it costs to file late

Missed every date, including 31 December? An updated return (ITR-U) may still be possible with additional tax. See belated, revised and updated returns.

Return filing requirements depend on the applicable provisions for the relevant tax year/assessment year.

An individual or other taxpayer may need to file because of:

• Income exceeding the applicable filing threshold.
• Specified transactions or conditions that trigger filing requirements.
• Business or professional income.
• Capital gains or other taxable income.
• Foreign assets or foreign income where applicable.
• Carry-forward of eligible losses.
• Refund claims.
• Other conditions prescribed under the applicable income-tax law.

Whether a return is mandatory should be assessed for the taxpayer and relevant year rather than inferred from salary alone.

The correct ITR depends on the taxpayer's income sources and circumstances. Start with this decision table, then read the form notes below.

ITR-1

The current AY 2026-27 ITR-1 utility is for eligible resident individuals (other than not ordinarily resident) with total income up to ₹50 lakh and specified income sources, including salary/pension, certain house property income and other sources, subject to the form's conditions. It also accommodates specified long-term capital gains under Section 112A within the prescribed limit.

ITR-2

ITR-2 is for eligible individuals and HUFs who do not have income from profits and gains of business or profession. It can apply where the taxpayer has capital gains, multiple income sources or other circumstances that make ITR-1 unavailable.

ITR-3

ITR-3 is for individuals and HUFs having income from profits and gains of business or profession.

ITR-4

ITR-4 is for eligible resident individuals, HUFs and firms other than LLPs meeting the applicable conditions and using presumptive taxation under Sections 44AD, 44ADA or 44AE, including the form's income and capital-gain conditions.

ITR-5, ITR-6 and ITR-7

These forms cover specified entities such as firms/LLPs and other persons, companies, and persons required to file under the specified charitable/religious or other provisions.

Important: Form selection must be based on the current year's notified ITR instructions. Do not choose a form solely from job title or salary level.

Step 1 — Identify the taxpayer profile

We determine residential status, income sources, entity/taxpayer type and relevant tax year.

Step 2 — Select the correct ITR

The return form is selected based on the current notified eligibility conditions.

Step 3 — Collect source data

Form 16, AIS, 26AS, bank statements, capital-gains statements and other relevant documents are collected.

Step 4 — Reconcile income and taxes

Income and TDS are compared against AIS/Form 26AS and source documents. Differences are identified before filing.

Step 5 — Compute taxable income

Applicable deductions, exemptions, allowances, presumptive-tax rules and other permitted adjustments are considered based on the taxpayer's facts and chosen regime where relevant.

Step 6 — Review tax liability/refund

The resulting tax payable or refund is reviewed, including TDS/TCS, advance tax and self-assessment tax credits.

Step 7 — File the ITR

The return is submitted electronically through the Income Tax e-filing system.

Step 8 — E-verify

The taxpayer completes the prescribed verification process. The return is not treated as fully completed merely because the data has been submitted.

The applicable tax regime can materially affect the tax calculation.

The comparison should consider:

• Tax slabs
• Standard deduction, where applicable
• Eligible deductions
• HRA treatment
• Home-loan interest provisions
• NPS-related deductions
• Employer contributions
• Capital gains
• Special-rate income
• Business/professional income restrictions on regime changes
• Other taxpayer-specific provisions

It is not accurate to say the new regime has “no deductions.” Eligibility depends on the relevant provision and tax year.

AY 2026-27 slab rates (individuals below 60)

Health and education cess of 4% is added in both regimes. Worked example: a resident with salary of ₹12,75,000 and no other income pays nil tax under the new regime: ₹12,75,000 − ₹75,000 standard deduction = ₹12,00,000; tax on that is ₹60,000, which the Section 87A rebate cancels in full. At a salary of ₹13,00,000 the slab tax on ₹12,25,000 is ₹63,750, but marginal relief caps it at ₹25,000 (the income above ₹12 lakh), plus cess.

Use the CorporateWalla tax calculator as a starting point, but final tax computation should be based on the current law and taxpayer facts.

Related tool: Income Tax Calculator

If the original return is not filed by the applicable due date, a belated return may be available subject to the statutory conditions and time limits.

For AY 2026-27, the Income Tax Department states that a belated return under Section 139(4) may be furnished by 31 December 2026 or before completion of assessment, whichever is earlier. It also states that the delayed-filing fee under Section 234F is ₹1,000 where total income does not exceed ₹5 lakh and ₹5,000 otherwise.

For later Tax Years governed by the Income Tax Act, 2025, the corresponding delayed-filing fee is in Section 428 of the new Act.

With a belated return you also lose the right to carry forward most losses, and if you have business income you can no longer opt out of the new regime for that year. Filing before 31 December 2026 still avoids the higher cost of an updated return later.

An income-tax notice is not the same thing as an ordinary return-filing requirement.

If a taxpayer receives a notice or communication:

• Identify the notice type and section.
• Check the relevant assessment/tax year.
• Verify the response deadline.
• Reconcile the department's information with the taxpayer's records.
• Prepare the appropriate response.
• Submit the response through the prescribed portal workflow.

Related service: Income Tax Notice Reply

CorporateWalla's ITR filing professional-fee packages:

Professional fees exclude GST and applicable government charges. Complex business, professional, NRI, foreign-income, capital-gains, notice and audit-related cases may require a specialist package or separate quotation.

Share your income sources and tax documents. A CA-led team can identify the appropriate return workflow, reconcile your tax information and assist with filing and e-verification.