New Delhi: The July 31 deadline for filing Income Tax Returns for Assessment Year 2026-27 is now just two days away. Salaried taxpayers and other eligible
individuals should file early rather than leaving the process for the final evening, when heavy traffic may slow the e-filing portal.
Before submitting the return, taxpayers need to match their income, tax deductions and investments with official records. Form 16 alone may not show bank interest, dividends, share sales or mutual fund transactions reported against the taxpayer’s PAN.
Why filing before July 31 matters
July 31, 2026, is the due date for many salaried individuals filing ITR-1 or ITR-2. The Income Tax Department has asked taxpayers to file early and avoid a last-minute rush. ITR-1, ITR-2, ITR-3 and ITR-4 facilities for AY 2026-27 are live on the official portal.
Missing the applicable deadline can lead to a late filing fee, interest on unpaid tax and delayed refunds. Certain losses may no longer be carried forward if the return is filed late.
Documents required for ITR-1 and ITR-2
Keep these records ready:
- Form 16 from the employer
- Form 26AS showing TDS and tax payments
- Annual Information Statement and Taxpayer Information Summary
- Bank statements and interest certificates
- Housing loan and deduction records
- Broker statements for shares and mutual funds
ITR-1 generally covers eligible resident individuals with simpler income sources. ITR-2 applies to individuals and Hindu Undivided Families without business or professional income, including taxpayers reporting capital gains or foreign assets.
How to avoid late fees and penalties
Compare Form 16 with AIS, TIS and Form 26AS. Report savings interest, fixed deposit interest, dividends and capital gains even when they are missing from pre-filled fields.
Select the correct form and assessment year. Pay any balance tax before submission. Complete e-verification after filing, since an unverified return may be treated as invalid.
Step-by-step portal navigation
Log in to the Income Tax e-filing portal using PAN. Go to e-File, select Income Tax Returns, then choose File Income Tax Return.
Select AY 2026-27, online mode and the correct taxpayer status. Pick ITR-1 or ITR-2, check pre-filled entries, add missing income and review the tax calculation. Submit the return and e-verify it using Aadhaar OTP, net banking or another available method.
