Budget 2026 Changed Your ITR Deadlines — Here's What Moved
Budget 2026 extended the ITR filing deadline for non-audit taxpayers (freelancers, small businesses filing ITR-3/4) from July 31 to August 31. Salaried employees filing ITR-1/2 still have July 31.
What Changed
| Taxpayer Type | Old Deadline | New Deadline (FY 2025-26) |
|---|---|---|
| Salaried (ITR-1, ITR-2) | July 31 | July 31 (unchanged) |
| Freelancers / Business (ITR-3, ITR-4) | July 31 | August 31 |
| Audit cases (ITR-5, ITR-6) | October 31 | October 31 (unchanged) |
| Transfer Pricing cases | November 30 | November 30 (unchanged) |
| Revised / Belated return | December 31 | December 31 (unchanged) |
Why This Matters
Freelancers and small business owners have always struggled with the July 31 deadline. Unlike salaried employees who receive Form 16 by mid-June, business taxpayers need to reconcile invoices, track expenses, and often wait for client TDS certificates. The extra month gives them breathing room to file accurate returns instead of rushing through estimates.
Advance Tax Dates Remain Unchanged
| Installment | Due Date | Cumulative % |
|---|---|---|
| First | June 15 | 15% |
| Second | September 15 | 45% |
| Third | December 15 | 75% |
| Fourth | March 15 | 100% |
Late Filing Penalties Still Apply
The penalty structure hasn't changed. If you miss your applicable deadline:
- Section 234F: Rs 5,000 late fee (Rs 1,000 if income is below Rs 5 lakh)
- Section 234A: Interest at 1% per month on unpaid tax from the due date
- Loss carry-forward: Business and capital losses cannot be carried forward if you file late
Action Items
- If you're salaried — your deadline is still July 31, 2026. No change.
- If you're a freelancer or small business — you now have until August 31, 2026.
- If you need an audit — October 31, 2026 remains your deadline.
- Update your tax calendar and advance tax planning accordingly.