ITR filing 2026: July's biggest income tax deadlines explained

July brings six key income tax deadlines, including the 31 July ITR filing cut-off. Missing them can lead to late fees, interest and limits on carrying forward losses.

In Short

• July is crucial for income tax filing and compliance deadlines
• Multiple reporting duties must be completed by July 15
• Last date for individual ITR filing is July 31 with late fees after

The income tax return (ITR) filing season is in full swing, making July one of the most important months for taxpayers.

Whether you are a salaried employee, a business owner or an employer, several tax compliance deadlines fall this month. Missing them could result in late fees, interest and other penalties.

Here are the six key income tax deadlines you should keep in mind in July.

July 7: TDS deposit deadline

Tax deductors who have been granted quarterly payment approval must deposit the tax deducted at source (TDS) for the April-June quarter by July 7.

Failure to do so could attract interest and other consequences for delayed payment.

July 15: Reporting deadlines

Several reporting requirements fall due on July 15.

These apply to government offices, stock exchanges, authorised dealers, IFSC units and intermediaries dealing with non-resident investors.

July 30: File TDS challan-cum-statement

Tax deductors must file the challan-cum-statement for specified tax deducted during June by July 30.

July 31: Last date to file ITR

July 31 is the biggest deadline for individual taxpayers.

Those filing ITR-1 and ITR-2 for FY 2025-26 must submit their income tax return by this date.

If you miss the deadline, you can still file a belated ITR by December 31, 2026, but you may have to pay a late filing fee.

July 31: Quarterly TDS and TCS returns

The end of July is also the due date for filing various quarterly TDS and TCS returns for the quarter ended June 30.

This includes TDS statements for salary payments and payments made to non-residents.

July 31: Important income tax forms

Several prescribed forms must also be submitted by July 31.

These include Form 10BA for claiming deduction under Section 80GG on rent paid, Form 10E for claiming tax relief on salary received in arrears or advance, and Forms 10H, 10CCE and 10CCD for specified foreign income and royalty-related deductions.

WHAT HAPPENS IF YOU MISS THE ITR DEADLINE?

Missing the July 31 ITR filing deadline can have financial consequences.

Taxpayers may have to pay a late filing fee, interest on unpaid taxes and could also lose the benefit of carrying forward certain business or capital losses.

However, a belated income tax return can still be filed by December 31, 2026.

According to ClearTax, taxpayers with total income exceeding Rs 5 lakh may have to pay a late fee of up to Rs 5,000 if they file after July 31 but before December 31.

Those with taxable income up to Rs 5 lakh may have to pay a reduced late fee of Rs 1,000.

Taxpayers also have the option of filing an updated return (ITR-U) within 24 months, subject to payment of the applicable additional tax.

- Ends