The process of filing income tax returns for the financial year 2025-26, corresponding to the assessment year 2026-27, is set to begin soon. However, taxpayers cannot start filing just yet, as the Income Tax Department has not activated the required return forms on its e-filing portal.
Although the financial year ended on March 31, the filing window does not open immediately. Taxpayers must wait until the department releases and enables the utilities for various ITR forms. These are made available through the online portal, as well as schema-based and Excel utilities.
In most years, these tools go live around May. This year, too, filing is expected to start shortly once the utilities are activated. Until then, even those with all documents ready will not be able to submit their returns.
Last year saw a delay due to changes in ITR formats linked to revised capital gains rules, pushing the start of filing to June. Experts suggest that the process may begin earlier this time.
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Key deadlines taxpayers should track
Once filing opens, different categories of taxpayers must follow specific timelines:
Salaried individuals and those using ITR-1 or ITR-2 must file by July 31, 2026
Non-audit business cases under ITR-3 and ITR-4 have time until August 31, 2026
Taxpayers requiring an audit must file by October 31, 2026
Cases involving transfer pricing reports have a deadline of November 30, 2026
If these deadlines are missed, a belated return can be filed by December 31, 2026. A revised return is allowed until March 31, 2027. Updated returns can be submitted up to March 31, 2031.
Why filing on time is important
Meeting the deadline helps avoid penalties under Section 234F and ensures quicker processing of refunds. Delays may also affect the ability to carry forward certain losses.
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Timely filing has also become important for financial processes such as loan applications, visa approvals, and investment documentation.
What can taxpayers do now?
Even before filing begins, taxpayers can start preparing. Gathering key documents like interest certificates, capital gains statements, and investment proofs can help reduce errors later.
For salaried individuals, Form 16 is expected by June 2026. It is also advisable to check Form 26AS and the Annual Information Statement to ensure all income details are correctly reflected.
Filing early, once the window opens, can help avoid a last-minute rush and potential delays on the portal.
