ITR due date extension 2026 LIVE: Will taxpayers get more time to file?
Taxpayers filing ITR-1 and ITR-2 just have two days to file their income tax return (ITR), as the 31 July deadline is approaching closer. Nearly 5 crore returns have been filed so far, indicating that taxpayers are now rushing to complete their filings and avoid penalties, interest and compliance notices.
Tomorrow’s due date only applies to resident individuals who do not need to undergo an audit. Such taxpayers include most salaried employees, pensioners and students, with income from multiple house properties, interest, dividends, capital gains, or other sources.
How to file your ITR online?
A taxpayer can file their returns on the income tax department’s e-filing portal by logging in using their using your PAN as user ID and your password.
Many fintech platforms also offer ITR services at a cost, which often comes with expert assistance, tax-saving suggestions, and pre-filled tax details.
Who doesn’t have to file ITR tomorrow?
However, not every taxpayer is required to file their ITR by 31 July. Those people with business or professional income filing ITR-3, as well as those opting for the presumptive taxation scheme under ITR-4 (Sugam), have a later due date. Here’s when such taxpayers need to file their returns:
- August 31, 2026: Salary from freelance or business income that does not require tax audit.
- October 31, 2026: Business or professional income requiring a tax audit.
Do you still need to file ITR even if your income does not attract tax?
Yes, one of the most reason for mandatory ITR filing is when your total income exceeds the basic exemption limit, meaning any income below this threshold can skip filing ITR if they meet the other prescribed conditions.
Under the old tax regime, the exemption limit is ₹2.5 lakh for individuals below 60 years, ₹3 lakh for senior citizens (60 years but less than 80 years of age) and ₹5 lakh for super senior citizens (80 years or more). Meanwhile as per the new tax regime, the basic exemption limit is ₹4 lakh for taxpayers of all age groups.
Here are some reasons that makes ITR filing mandatory:
- Savings bank deposits exceed ₹50 lakh
- Current account deposits cross ₹1 crore
- Foreign travel expenses exceed ₹2 lakh
- Electricity bill exceeds ₹1 lakh
- You own foreign assets or have signing authority abroad
This live blog will track the latest updates on who must file by 31 July, who gets additional time, penalties for missing the deadline, important ITR forms, filing portal developments, and expert guidance for last-minute taxpayers.
