ITR Filing 2026: Two Deadlines Now, and One Costly Trap

Salaried (ITR-1/2) file by 31 July 2026; business non-audit (ITR-3/4) get till 31 August 2026

New regime is the default; taxable income up to ₹12 lakh pays zero tax thanks to the ₹60,000 rebate

Old regime only makes sense if your 80C/80D/HRA deductions are genuinely large

Miss the due date and you're locked into the new regime for a belated return

Late fee is ₹5,000 (₹1,000 if income under ₹5 lakh), plus 1% monthly interest on unpaid tax

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