ITR filing deadline 2026 — what salaried filers need to know

For salaried professionals filing for FY 2025-26 (the financial year that ended March 31, 2026), the deadline is July 31, 2026. Miss it, and you're into "belated return" territory with penalties and lost benefits.

Which ITR form to use

• ITR-1 (Sahaj) — Most salaried with income up to ₹50L from salary, one house property, and other sources (interest etc.). No capital gains, no foreign assets.
• ITR-2 — If you have capital gains (sold mutual funds, ESOPs, property), income from more than one house, or foreign assets/income. Roughly half of salaried professionals fall here once they start investing.
• ITR-3— Business income or partnership income. Most salaried don't need this.

Penalty for late filing — Section 234F

• Income above ₹5L: ₹5,000 late fee.
• Income up to ₹5L: ₹1,000 late fee.
• Plus interest under 234A: 1% per month on tax owed, from August 1 onwards.

What you lose by filing late

• Right to revise.You can't revise a belated return as freely.
• Carry-forward of capital losses.Lost permanently if you file late. For someone with ₹50K of LTCG losses on stocks, that's ₹50K of future setoffs gone.
• Interest on refund. Department only pays interest on refund from the date of filing — not from April 1.

What you need to file

For most salaried filers, gather the following before filing:

• Form 16 from your employer (issued by mid-June). Two parts: A (TDS summary) and B (salary breakup, deductions claimed at source).
• Form 26AS + AIS (Annual Information Statement) from the IT portal. Cross-check that all TDS and reported transactions match.
• Bank statements for the year. Especially for interest income.
• Capital gains statement from your broker / mutual fund app, if you sold anything.
• Investment proofsfor any 80C/80D/80CCD(1B) deductions you're claiming (often your employer would have already factored these in).
• Rent agreement + receiptsif claiming HRA you didn't already claim through payroll.

Old vs New — choose carefully at filing

From FY 2023-24 onwards, the New regime is the default. To file under Old, you have to opt out explicitly each year (for salaried; business income has stricter rules). Don't pick by habit — run the numbers. Splexo's tax calculator does this in 30 seconds.

Where to file

• Income Tax Portal — incometax.gov.in. Free. The official site, redesigned in 2021. ITR-1 and ITR-2 utilities are improved but still finicky.
• Other fin products in market — paid, easier UX, ₹500–₹3,000 depending on your form complexity. Worth it if you have capital gains or your Form 16 has issues.
• A CA — ₹2,000–₹5,000 for salaried with simple returns; more if you have multiple income sources, business income, or capital gains complexity.

How Splexo helps before you file

Splexo doesn't file ITRs for you. It tells you which regime saves more, reminds you 30/15/7 days before July 31, walks you through deductions so you don't miss 80CCD(1B) or HRA, and gives you citations to quote when your CA pushes back.

Citations

Section 139(1), 234A, 234F of the Income Tax Act 1961. Finance Act 2024 amendments.