Newspunjab
28 july,2026
The last date for filing Income Tax Return (ITR) is July 31 and missing it is not limited to late fees. Failure to file ITR on time can lead to a penalty of up to ₹5,000, 1% interest per month on the outstanding tax, the problem of not being able to carry forward losses in the share market or business to the next year, loss of interest on refunds and the opportunity to opt for the old tax regime may also be missed. So, to avoid last-minute technical difficulties and prevent financial losses, file your ITR before July 31.
