If You Miss August 31 ITR Deadline To File Your Returns, Here’s What Happens Next

New Delhi: August 31 is the income tax return filing deadline for eligible non-audit taxpayers for assessment year 2026-27. Taxpayers yet to submit their returns can file them within the original deadline today.

Missing the deadline does not permanently close the filing window. However, taxpayers may face a late fee, interest and restrictions on carrying forward certain losses.

Who Must File By August 31?

The deadline covers eligible taxpayers in the non-audit category, including certain people earning income from a business or profession.

ITR-3 applies to individuals and Hindu Undivided Families earning profits or gains from business or profession who cannot use ITR-1, ITR-2 or ITR-4.

ITR-4, also called Sugam, is available to eligible resident individuals, HUFs and resident firms, excluding LLPs, with total income of up to ₹50 lakh.

Their business or professional income must be calculated under the presumptive taxation provisions of Sections 44AD, 44ADA or 44AE, subject to prescribed conditions.

The Income Tax Department has confirmed August 31, 2026, as the ITR-4 filing deadline for AY 2026-27.

Belated Return Allowed Until December

Taxpayers missing the original deadline may file a belated return under Section 139(4).

For AY 2026-27, the belated return can be submitted by December 31, 2026, or before completion of the assessment, whichever is earlier.

A late-filing fee under Section 234F may apply. The fee is Rs 1,000 when total income does not exceed Rs 5 lakh and Rs 5,000 in other cases. Interest may also be charged on outstanding tax liability.

Loss Carry-Forward May Be Affected

Late filing can prevent taxpayers from carrying forward certain business and capital losses. Such loss returns generally need to be filed within the original deadline under Section 139(1).

Taxpayers filing today should also complete verification within the permitted period. An unverified return is treated as invalid, while delayed verification can make the filing date later and trigger consequences. The department allows 30 days for completing electronic verification or submitting ITR-V.