ITR Filing for FY 2025-26 (AY 2026-27): Deadlines, Forms & Old vs New Regime

Every filing season brings the same last-minute scramble: which ITR form applies to you, whether the new tax regime actually saves you money, and how much time you really have before the deadline. Here’s a clear, practical rundown for FY 2025-26 (Assessment Year 2026-27) so you can plan ahead instead of filing in a panic on the last day.

Key due dates for AY 2026-27

• 31 July 2026: Individuals and HUFs filing ITR-1 or ITR-2 (salaried employees, pensioners, and those with capital gains or multiple house properties who don’t need an audit).
• 31 August 2026: ITR-3 and ITR-4 filers not subject to a tax audit (business/professional income under presumptive taxation or regular books, without audit requirements).
• 31 October 2026: Taxpayers whose accounts require a tax audit under Section 44AB, along with their audit report.

These dates have shifted in recent years, so treat them as a planning guide rather than gospel — always confirm the current due date before you file, since the CBDT does occasionally extend deadlines closer to the date.

Old regime vs new regime: how to actually decide

The new tax regime is now the default option, with lower slab rates but almost none of the deductions and exemptions available under the old regime (no Section 80C, 80D, HRA exemption, or home loan interest deduction under Section 24, among others). The old regime keeps higher slab rates but lets you claim those deductions.

There’s no universal answer — it depends entirely on how much you actually claim. As a rule of thumb:

• If your deductions (80C investments, health insurance, home loan interest, HRA) add up to a meaningful chunk of your income, the old regime often still wins.
• If you don’t invest heavily in tax-saving instruments, don’t pay rent, or don’t have a home loan, the new regime’s lower rates usually come out ahead.
• Salaried taxpayers can switch between regimes every year when filing their return; those with business or professional income have more restricted switching rules, so the choice matters more and is harder to reverse.

The only reliable way to know which regime saves you more is to actually compute both — a quick estimate using our income tax calculator takes a couple of minutes and removes the guesswork.

Which ITR form applies to you

• ITR-1 (Sahaj): Resident individuals with salary income, one house property, other sources of income, and total income up to ₹50 lakh. Not for those with capital gains, foreign income/assets, or director/unlisted-shareholder status.
• ITR-2: Individuals and HUFs with capital gains, more than one house property, foreign assets, or income above ₹50 lakh, but no business/professional income.
• ITR-3: Individuals and HUFs with income from business or profession, including partners in a firm.
• ITR-4 (Sugam): Resident individuals, HUFs, and firms (other than LLPs) opting for presumptive taxation under Sections 44AD, 44ADA, or 44AE, with total income up to ₹50 lakh.

Filing under the wrong form doesn’t just look untidy — the return can be treated as defective, and you’ll get a notice requiring correction within a limited window.

Before you file: a quick checklist

• Reconcile Form 26AS, the Annual Information Statement (AIS), and Form 16/16A against your own records — mismatches are the single biggest reason for delayed refunds and notices.
• Report all bank interest, dividend income, and capital gains, even small amounts — these are pre-filled from AIS and the department cross-checks them automatically.
• If you switched jobs during the year, make sure you’re not double-claiming the basic exemption or standard deduction across two Form 16s.
• Verify your return within 30 days of filing (via Aadhaar OTP, net banking, or other e-verification methods) — an unverified return is treated as not filed at all.
• Keep proof of every deduction you claim under the old regime; you don’t submit it while filing, but it’s exactly what gets asked for if your return is picked up for scrutiny.

What happens if you miss the deadline

A belated return can still be filed after the due date (until 31 December of the assessment year, under current rules), but it comes with a late fee under Section 234F, interest on any unpaid tax under Section 234A, and the loss of certain benefits — you can no longer carry forward most business losses or capital losses to future years. If you’re owed a refund, filing late simply delays getting your own money back.

How TaxSure helps

We file individual and corporate ITRs, compute the old-vs-new regime comparison properly rather than guessing, reconcile your AIS and 26AS before submission, and represent you if a notice or scrutiny does come up later. If your income involves capital gains, more than one employer in the year, or business income, it’s worth having someone check the numbers before you hit submit.

Book a free consultation and we’ll help you file it right the first time.