2026 is a transition year
The Income-tax Act, 2025 came into force on 1 April 2026 and replaces the 1961 Act, including the terms "previous year" and "assessment year," which become a single "tax year."
But the returns being filed now — for income earned in FY 2025-26 (AY 2026-27) — are still governed by the Income-tax Act, 1961, with the familiar ITR forms. The new Act applies to income earned from 1 April 2026, which you'll report in 2027. We track both, so you don't have to.
Due dates for FY 2025-26 (AY 2026-27)
| Who | Due date |
|---|---|
| Individuals filing ITR-1 or ITR-2 (no business income) | 31 July 2026 |
| Business or professional income, no tax audit (ITR-3, ITR-4) | 31 August 2026 |
| Tax audit report | 30 September 2026 |
| Tax audit cases | 31 October 2026 |
| Transfer pricing cases | 30 November 2026 |
| Belated return (if you missed your due date) | 31 December 2026 |
| Revised return (to correct a filed return) | 31 March 2027 |
Missed the 31 July or 31 August deadline? You can still file a belated return by 31 December 2026. The late fee is ₹5,000, or ₹1,000 if your total income is up to ₹5 lakh, and interest of 1% a month applies on any unpaid tax. Some losses can't be carried forward on a belated return, so file as early as you can. After that, an updated return (ITR-U) is possible for up to four years, with additional tax.
Which ITR form do you need?
- ITR-1 (Sahaj): resident individuals with total income up to ₹50 lakh from salary or pension, one house property and other sources such as interest.
- ITR-2: individuals and HUFs without business income, but with capital gains beyond ITR-1 limits, more than one house property, foreign assets or income, or income above ₹50 lakh.
- ITR-3: individuals and HUFs with business or professional income, including partners in a firm.
- ITR-4 (Sugam): residents opting for presumptive taxation of business or professional income, with total income up to ₹50 lakh.
Filing the wrong form is one of the most common reasons for a "defective return" notice. We confirm the form before anything is filed.
Old or new tax regime?
The new regime is the default. For FY 2025-26, its rebate means resident individuals with taxable income up to ₹12 lakh generally pay no tax — ₹12.75 lakh for salaried taxpayers after the ₹75,000 standard deduction. Income taxed at special rates, such as capital gains, is treated separately.
The old regime can still work out better if you have large deductions — home loan interest, HRA, 80C and 80D investments. We calculate both before filing. For a quick estimate, try our income tax calculator.
Documents to keep ready
- PAN and Aadhaar (linked), and your bank account details for the refund
- Form 16 from your employer, and Form 16A/16B/16C for other TDS
- Annual Information Statement (AIS) and Form 26AS — we download and check these with you
- Bank and fixed-deposit interest certificates
- Capital gains statements from your broker and mutual funds
- For the old regime: rent receipts, home loan certificate, investment and insurance proofs
- For business income: books of account, profit and loss, and balance sheet
How Vitt-Marg helps
We reconcile every figure against AIS and Form 26AS before filing, so the tax department's system doesn't flag a mismatch later. If you've already filed and received a notice — a defective return, a 143(1) adjustment or a refund stuck in processing — we can take that on too. Businesses that need GST as well can combine it with GST registration and returns.
Guides on income tax returns
Short notes from our team on the rules, deadlines and the mistakes we see most often.
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The late fee, the interest, the losses you can't carry forward — and how to file a belated return without inviting a notice.
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Read note →Frequently asked questions
I missed the ITR due date. What now?
File a belated return by 31 December 2026. A late fee of up to ₹5,000 applies (₹1,000 if total income is up to ₹5 lakh), plus interest on any unpaid tax. After 31 December, the option is an updated return (ITR-U), which carries additional tax.
Does the new Income-tax Act, 2025 change my return for this year?
No. Returns for FY 2025-26 (AY 2026-27) are filed under the Income-tax Act, 1961, even though they're filed after 1 April 2026. The new Act applies to income earned from 1 April 2026.
Can I switch between the old and new tax regimes?
If you have no business income, you can choose the regime each year when you file. If you have business or professional income, switching is restricted — you can generally move back to the new regime only once — so it's worth deciding carefully.
My AIS shows income I don't recognise. What should I do?
Don't ignore it. Mismatches between AIS and your return are a common trigger for notices. You can submit feedback on the AIS if an entry is wrong; we'll check each entry with you and report it correctly.
Do you file returns for NRIs and for people outside Noida?
Yes. Filing is fully online, so we work with clients across India and abroad over secure document sharing and video calls.
This page is general information, current as of September 2026, and not advice for your specific situation. Laws, forms and due dates change — speak to us before acting on it.