ITR Filing Guide AY 2026-27: Last Date, Documents, Forms & Process

Filing your income tax return isn't just a legal obligation — it's how you claim refunds, carry forward losses, and build the financial paper-trail you need for loans and visas. This guide walks you through the entire AY 2026-27 process in plain English, whether you're a first-time filer or just want a refresher on what changed this year.

Quick facts for AY 2026-27

• Financial year: FY 2025-26 (1 April 2025 – 31 March 2026).
• Assessment year: AY 2026-27 (the year you file for FY 2025-26).
• Main deadline: 31 July 2026 (ITR-1 / ITR-2, no audit).
• Default regime: the new regime under Section 115BAC — you must opt out for the old one.
• Tax-free limit (new regime): up to ₹12 lakh income (₹12.75 lakh salaried).

1. Due dates for AY 2026-27

Your due date depends on which return you file and whether a tax audit applies:

Miss 31 July and you can still file a belated return until 31 December 2026 — but with a late fee (section 6 below), interest on unpaid tax, and you lose the ability to carry forward most losses. A belated return is also taxed under the new regime only. If you spot a genuine mistake after filing, you can file a revised return up to 31 March 2027 with no extra tax. For corrections after that, an Updated Return (ITR-U) is possible up to 48 months later with additional tax — see our belated, revised & updated returns guide.

2. Which ITR form should you file?

Pick the wrong form and the portal rejects your return, so this matters:

• ITR-1 (Sahaj) — resident individuals with total income up to ₹50 lakh from salary/pension, one house property, and other sources (interest). From AY 2025-26 it also allows LTCG under Section 112A up to ₹1.25 lakh, provided you have no capital losses to carry forward and no STCG.
• ITR-2 — you have STCG, LTCG above ₹1.25 lakh, capital losses, more than one house property, foreign income/assets, or income over ₹50 lakh. No business income.
• ITR-3 — income from a business or profession (including F&O trading treated as business income).
• ITR-4 (Sugam) — presumptive income under 44AD/44ADA/44AE (many freelancers and small businesses), income up to ₹50 lakh.

Not sure? Our detailed guide walks through every case: which ITR form should you file →

3. Documents you'll need

Keep these ready before you start — it turns filing into a 20-minute job:

• Form 16 from your employer (Part A & B).
• AIS / TIS and Form 26AS — download from the income tax portal; they show the income and TDS the department already knows about.
• Bank interest certificates (savings + fixed deposits).
• If you invest: capital-gains / P&L statements from your broker and mutual-fund houses.
• If you claim deductions: proofs for 80C, 80D, home-loan interest, HRA, etc.
• A pre-validated bank account (for the refund) and your PAN linked to Aadhaar.

The single biggest cause of tax notices is a mismatch between your return and your AIS/26AS — so reconcile these first. Full checklist: documents required to file ITR →

4. New regime vs old regime — the key decision

The new regime is the default for FY 2025-26. Its updated slabs, combined with a bigger Section 87A rebate, make income up to ₹12 lakh effectively tax-free — and up to ₹12.75 lakh for salaried filers after the ₹75,000 standard deduction.

The old regime still wins for some people with large deductions (HRA + 80C + home-loan interest). This is the single most valuable decision in your return — we cover it in depth here: New vs Old Tax Regime AY 2026-27 →

5. The filing process, step by step

1. Log in at the income tax e-filing portal and pick the right ITR form and AY 2026-27.
2. Reconcile your pre-filled data against Form 16, AIS and 26AS — fix any mismatch before you proceed.
3. Choose your regime and claim eligible deductions.
4. Pay any balance tax (self-assessment tax) if the computation shows an amount due.
5. Submit, then e-verify within 30 days.

Prefer not to do this yourself? A qualified CA prepares and reviews everything and files on your behalf — you just upload documents and approve the final numbers.

6. Late filing: penalties under Section 234F

• Total income above ₹5 lakh: late fee of ₹5,000.
• Total income up to ₹5 lakh: late fee of ₹1,000.
• Plus 1% per month interest (Section 234A) on any unpaid tax.
• You can't carry forward business or capital losses filed after the due date.
• A belated return is locked to the new regime — you can't choose the old one.

Details and how to still fix things: ITR last date & penalties →

7. E-verification — filing isn't done until you verify

After submitting, you must e-verify within 30 days, most easily with an Aadhaar OTP or via net banking. An un-verified return is treated as never filed — a common and costly mistake. Step-by-step: how to e-verify your ITR →

8. After filing: refund & notices

Refunds typically arrive 2–5 weeks after e-verification — how to check your refund status. If you receive a notice, most are simple AIS/26AS mismatches — what to do if you get a notice.

Common mistakes to avoid

• Forgetting to e-verify within 30 days.
• Missing savings-bank / FD interest that shows in your AIS.
• Using ITR-1 when you have STCG or LTCG above ₹1.25 lakh.
• Picking a regime without comparing both.
• Filing after 31 July and losing loss carry-forward.

This guide is for general information for FY 2025-26 (AY 2026-27) and is not individual tax advice. Rules can change through the year via CBDT notifications; verify specifics for your situation or ask a qualified CA. Reviewed by a Chartered Accountant.