Neutral impactEconomy
ITR Filing Deadline: No Update On Extension; What Taxpayers Who Missed Filing Must Know
NDTV Profit 3 hrs ago·1 Aug 2026, 4:20 pm
The Income Tax Department has not issued any notification extending the July 31 deadline for filing Income Tax Returns (ITR). This deadline is a hard stop for the current fiscal year, and taxpayers who have not yet filed their returns will be considered non-filers. The government has not yet announced any specific grace period or extension for those who miss this date.
For investors, this deadline is crucial because the tax department will use the data from filed returns to determine the tax liability of individuals. Non-filers may face penalties and interest charges on the outstanding tax amount. This can impact the net returns of investors, especially those with significant capital gains from the stock market.
Investors should check their tax status on the official Income Tax Department portal immediately. If the return is not filed by the deadline, it is advisable to consult a tax professional to understand the consequences and explore any available options for filing a belated return, if applicable.
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- Category: Economy.
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