Missed July 31st ITR due date? What to do?

Published 31 July 2026 · india

What if you miss the ITR filing due date of July 31, 2026 for AY 2026-2027 Late filing fee: A penalty of up to Rs

What if you miss the ITR filing due date of July 31, 2026 for AY 2026-2027 Late filing fee: A penalty of up to Rs 5,000 may be levied under Section 234F. If your total income does not exceed Rs 5 lakh, the maximum late fee is Rs 1,000. A penalty of up to Rs 5,000 may be levied under Section 234F. If your total income does not exceed Rs 5 lakh, the maximum late fee is Rs 1,000. Interest on unpaid ta Interest under Sections 234A, 234B, and 234C is charged at 1% per month (or part of a month) on the outstanding tax liability from the original due date until the tax is paid. Interest under Sections 234A, 234B, and 234C is charged at 1% per month (or part of a month) on the outstanding tax liability from the original due date until the tax is paid. Loss of carry-forward benefits: You may lose the ability to carry forward certain losses, such as business losses and capital losses, to future assessment years (subject to specified exceptions). You may lose the ability to carry forward certain losses, such as business losses and capital losses, to future assessment years (subject to specified exceptions). Delay in tax refunds: If you are eligible for a refund, filing after the due date may result in a longer processing time.

If you are eligible for a refund, filing after the due date may result in a longer processing time. Higher compliance risk: Continued non-compliance or willful failure to file your return may invite notices from the Income Tax Department and, in serious cases, legal action. What can you do? July 31, 2026 is the due date to file income tax return (ITR) by salaried, pensioners, students and other taxpayers who are not required to conduct a tax audit.If you miss this due date then don't worry, you can still file your income tax return by paying a late fee of Rs 5,000 if your total income is more than Rs 5 lakh and Rs 1,000 if it is less than Rs 5 lakh. If you have no taxable income yet still want to file ITR but missed the July 31, 2026 due date, then there is no late fee.More than the late fee aspect, consequences of not filing an ITR even when mandatory, is very severe.For example, income up to Rs 12 lakh (12.75 for salaried) is tax free, but for claiming this benefit, you need to file the ITR. This benefit is called Section 87A tax rebate and it essentially gives you a rebate on the tax liability. So without the rebate, you are still liable to pay tax on income above the basic exemption limit.Keep reading to know more about the consequences of not filing ITR and what you can do.Punit Agarwal, Founder & CEO at KoinX, explained to ET Wealth Online that paying tax and filing an income tax return are two separate obligations under the law.Agarwal says: "If your income crosses the filing threshold, you're required to file an ITR regardless of whether tax was already deducted or paid."Simply paying tax doesn't create a record with the Income Tax Department the way a filed return does.