Income Tax Return (ITR-1) Last Date, Fees, and Important Details

Key Details

Financial YearFY 2025-26

Assessment YearAY 2026-27

ITR-1 Due Date (Non-Audit)31 July 2026

Belated / Revised ReturnUntil 31 December 2026

Updated Return (ITR-U)Until 31 March 2030 (48 months from end of AY)

Late Fee (Income > Rs. 5 lakh)Rs. 5,000 under Section 234F

Late Fee (Income up to Rs. 5 lakh)Rs. 1,000 under Section 234F

Interest on Unpaid Tax1% per month under Section 234A

Income Limit for ITR-1Up to Rs. 50 lakh total income

LTCG Limit in ITR-1Up to Rs. 1.25 lakh under Section 112A

E-Verification Window30 days from submission

Default Tax RegimeNew regime (115BAC) unless you opt out

Resident Individual (not RNOR, not NRI)
Total income up to Rs. 50 lakh in FY 2025-26
Income sources: salary/pension, up to 2 house properties, other sources (interest, dividends)
LTCG under Section 112A up to Rs. 1.25 lakh allowed
Agricultural income up to Rs. 5,000 allowed
Not a director of any company
Not holding any unlisted equity shares
No foreign income, foreign assets, or signing authority abroad
No brought-forward or carry-forward losses

ITR-1 is the simplest ITR — just one page, fully pre-filled with salary, TDS, interest, dividends from AIS
100% online on incometax.gov.in — no paperwork, no branch visit, no agent needed
Refund usually credited within 7-30 days after e-verification if bank is pre-validated
New tax regime has higher basic exemption (Rs. 3 lakh) but no 80C/80D/HRA benefits
Old tax regime lower slabs but allows most deductions — choose based on your investments
E-verify using Aadhaar OTP — instant, no courier of ITR-V needed
If you miss 31 July, you can still file belated return till 31 December 2026 with Rs. 1,000 / Rs. 5,000 penalty
PAN must be linked with Aadhaar — unlinked PAN is inoperative and cannot be used to file