Return of income for the Assessment Year 2026-27 for all assessee other than (a) corporate assessee or (b) non-corporate assessee (having income from business or profession and whose books of account are required to be audited under Income Tax Act, 1961 or under any other Act) or (c) working partner of a firm whose accounts are required to be audited under this Act or under any other Act or the spouse of such partner if the provisions of section 5A applies to such spouse or (d) an assessee who is required to furnish a report under section 92E.
July, 31 2026The deadline to file Income Tax Returns (ITR) for Assessment Year 2026-27 is July 31, 2026, for non-audit cases.
Key updates to note for the current tax season:
- Transition of Laws: Although the new Income Tax Act is in effect, ITR filings for the income earned during the 2025–26 financial year (AY 2026-27) are still governed by the older Income Tax Act, 1961.
- Foreign Assets Tracking: The CBDT has enabled taxpayers to view their Foreign Asset Information (CRS/FATCA) directly in the Annual Information Statement (AIS) on the e-filing portal.
- Revised Return Window: If you need to make corrections to your ITR, you can file a revised return between January and March 2027 by paying a late fee (ranging from ₹1,000 to ₹5,000 depending on your income threshold).
- Exemptions for IFSC Units: Specified payments, such as interest, dividends, and professional fees received by eligible International Financial Services Centre (IFSC) Units, are now exempt from TDS
