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Income Tax Department clarifies rules for filing belated returns

Published July 31, 2026 at 10:33 AM UTC

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The Income Tax Department has provided updated guidelines for taxpayers who missed the original deadline for filing their Income Tax Returns (ITR). For the assessment year 2026-27, the due date for belated returns is December 31, 2026. Taxpayers filing after the original due date will incur a late fee under Section 234F and interest under Section 234A. It's important to note that certain losses, such as business and capital losses, cannot be carried forward if the return is filed belatedly. However, losses from house property can still be carried forward. Taxpayers are encouraged to file their returns by the original due date to avoid these penalties and loss of benefits.