Neutral impactEconomy
ITR Filing Deadline Today: What Happens If You Miss Aug. 31 Due Date? Common Mistakes To Avoid
NDTV Profit 3 hrs ago·31 Aug 2026, 5:30 am
The deadline for filing Income Tax Returns (ITR) for the financial year 2025-26 is today, August 31. Missing this date means you will not be able to file a regular return and will have to opt for a 'belated return' instead. While the government has extended the window for these late filings, there are penalties and a higher tax rate that apply.
For investors, missing the deadline can impact your tax planning and limit your ability to carry forward losses from stock market trades. It is crucial to file on time to avoid these complications and ensure your financial records are up to date.
Moving forward, taxpayers should focus on avoiding common errors such as incorrect PAN details, mismatched bank account numbers, or errors in capital gains calculations. Filing the return before the deadline ensures you remain compliant and avoid unnecessary scrutiny from tax authorities.
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