Run a Business or Practice? Your ITR Deadline Is 31 August 2026 — Not 31 July
For the first time, the income-tax calendar splits by who you are. Salaried filers keep 31 July; non-audit business owners and professionals (ITR-3 / ITR-4) now get until 31 August 2026. It's a permanent change — but the extra month hides three traps most people walk straight into.
Get a CA to file before your date →The full AY 2026-27 deadline map
Budget 2026 spread the calendar across four months. Find your row — your date depends on your income type and whether you need an audit.
| You are… | Form | Due date |
|---|---|---|
| Salaried / pension / capital gains | ITR-1 / ITR-2 | 31 Jul 2026 |
| Business or professional — no audit | ITR-3 / ITR-4 | 31 Aug 2026 |
| Accounts audited under Section 44AB | ITR-3 / 5 / 6 | 31 Oct 2026 |
| Transfer-pricing cases | + Form 3CEB | 30 Nov 2026 |
| Tax Audit Report (where audit applies) | 3CA/3CB-3CD | 30 Sep 2026 |
| Belated return | u/s 139(4) | 31 Dec 2026 |
| Revised return | u/s 139(5) | 31 Mar 2027 |
Dates apply unless the CBDT issues an extension. Last year's portal-driven extension was a one-off — the 31 August date is now permanent law, so don't plan around a notification that may never come.
31 August or 31 October? It hinges on one thing: audit.
No tax audit
- Business turnover up to ₹1 crore (up to ₹10 crore if 95%+ of receipts & payments are digital)
- Professional receipts up to ₹50 lakh
- You're under the presumptive scheme (44AD / 44ADA) and declaring at or above the prescribed rate
Tax audit required
- Turnover or receipts above the limits on the left
- You opted out of 44AD within the 5-year lock-in, or declared profit below the presumptive rate with income above the basic exemption
- Company or LLP requiring statutory/tax audit
Not sure which side you're on? That single call decides your deadline, your audit report date, and your penalties. Walk through it on the tax audit applicability guide, or check your scheme on the business ITR page.
1Trap one: the extra month is to file, not to pay
The 31 August date moves your filing deadline. It does not move a single payment deadline. The interest clocks keep running on their own schedule:
- Advance tax was due in instalments through 15 March 2026 (presumptive taxpayers: a single instalment by 15 March). Filing later doesn't change that.
- Section 234B & 234C interest on any advance-tax shortfall has already been accruing — the filing extension doesn't pause it.
- Section 234A interest (1% per month on unpaid self-assessment tax) starts from your due date. Pay your tax on time and file by 31 August, and you avoid it entirely.
The move: clear your tax now even if the return goes in later. The extra month is breathing room for paperwork — not for the payment.
2Trap two: miss the date and you lose the old regime
This is the costliest one for business owners. The new regime is the default for AY 2026-27. If you have business or professional income and want the old regime (to keep your 80C, home-loan interest, HRA and other deductions), you must file Form 10-IEA on or before your due date under Section 139(1) — 31 August for non-audit cases.
File even a day late — a belated return — and you cannot opt for the old regime at all. You're taxed under the new regime by default for that year. For anyone carrying heavy deductions, that single slip can mean a materially higher tax bill.
And it's a one-way door for business income: the old-regime election via Form 10-IEA is broadly a once-in-a-lifetime choice with tight rules on switching back. Get the regime call — and the timing — right the first time, ideally with a CA running both numbers before you file.
What missing your date actually costs
- Late fee under Section 234F — ₹1,000 if total income is up to ₹5 lakh, ₹5,000 otherwise.
- 234A interest at 1% per month on any unpaid tax, from the due date until you file.
- Loss of carry-forward. File late and you can't carry forward business losses or capital losses to set off in future years — often the most expensive consequence over time.
- No old regime — the belated return locks you into the new regime, as above.
- Audit cases: the Tax Audit Report is due 30 September 2026, and from this year a delayed report carries a steep penalty (reported up to ₹75,000 for a delay of up to a month) — so audited businesses must close their books even earlier.
Business & professional deadlines — quick answers
I'm a freelancer / consultant. Is my deadline 31 July or 31 August?
Is the 31 August date a temporary extension?
Does the extra month give me more time to pay my tax?
If I file late, can I still choose the old regime?
My accounts need an audit. What's my date?
What if I miss 31 August entirely?
One date. Three traps. Get it handled.
A QwikFilings Chartered Accountant confirms your exact deadline, runs old-vs-new regime both ways, files Form 10-IEA where it saves you tax, and gets your business return in clean — before the regime door and the interest clock close on you.
Message us on WhatsApp →Disclaimer: This page is general information on AY 2026-27 ITR due dates for business and professional taxpayers and does not constitute tax or legal advice. The 31 August due date, the revised-return fee and the audit-report penalties follow Finance Act / Budget 2026 changes; dates can be extended by the CBDT and rules can change. Confirm your position with a qualified Chartered Accountant before acting.