Any person who receives any income by way of Salary, Pension, Interest, shall file their Income Tax Return for the FY 2025-26 (AY 2026-27) before July 31 due date. The tax-payers who earn salary and capital gains income shall file their income tax return in FORM ITR-1 SAHAJ or ITR-2 as applicable before July 31.
Taxpayers can also file Belated (late) Return before Dec.31, 2026 and Revised Return before Mar. 31, 2027 on payment of prescribed fee of Rs. 5,000. If the total income of the taxpayer does not exceed five lakh rupees, the levy of fee payable shall be Rs. 1,000 only. Before filing the Income Tax Return, it is suggested to verify and report the transactions appearing in Annual Tax Statement (FORM 26AS), Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) wherever applicable.
Wherever there is any doubt, reference may be made to the provisions of the Income Tax Act,1961, the Income Tax Rules, 1962, relevant Finance Act and/or circulars and/or notifications, according to N.D. Shreenivaas of Bhavani Associates, Mysuru.