ITR filing AY 2026-27: file before 31 July or lose the old regime
The new staggered ITR calendar plus a costly catch — file a belated return and you are locked into the new tax regime, losing HRA, 80C and every old-regime deduction.
Income tax return filing for FY 2025-26 (AY 2026-27) is open, and this year the CBDT has staggered the deadlines by form type. Salaried and most individual filers face the 31 July 2026 cut-off — but the bigger story is what happens if you miss it.
The staggered deadline calendar
| Who | Form | Due date |
|---|---|---|
| Salaried, pensioners, simple income | ITR-1 / ITR-2 | 31 July 2026 |
| Business & professionals (no audit) | ITR-3 / ITR-4 | 31 August 2026 |
| Audit cases | — | 31 October 2026 |
| Belated return (all) | — | 31 December 2026 |
The trap: a belated return forces the new regime
The most expensive consequence of missing your due date is not the late fee — it is the loss of the old tax regime. A belated return filed under Section 139(4) can only be filed under the new regime, even if you submitted Form 10-IEA on time. That means no HRA exemption, no 80C, no 80D, no home-loan interest and no other old-regime deductions for the whole year.
If your tax planning relies on the old regime, filing even one day late can cost far more than the penalty itself. Use the old regime calculator to see what those deductions are worth to you before the deadline.
The other costs of filing late
- Late fee (Section 234F): ₹5,000, reduced to ₹1,000 if total income is up to ₹5 lakh.
- Interest (Section 234A): 1% per month on any unpaid tax until you file.
- Lost loss carry-forward: capital losses and business losses cannot be carried forward in a belated return (house-property loss is the exception).
Bottom line: salaried filers should target 31 July, lock in their regime choice, and run the numbers first with the income tax calculator.
Sources: ClearTax — ITR filing due dates AY 2026-27, ClearTax — belated return under Section 139(4), ClearTax — Section 234F late filing fee. Verify against the Income Tax Department portal before filing.
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