ITR Deadlines AY 2026-27: Dates, Penalties and Late-Filing Cost
Note: This is general information, not tax advice, and tax rules change. Verify the current figures against the Income Tax Act, the relevant Finance Act and ICAI guidance, and confirm your own position with a qualified Chartered Accountant.
The key dates
The cost of filing late
Section 234F charges a late-filing fee of up to ₹5,000 (₹1,000 if your total income is under ₹5 lakh). Interest under Sections 234A, 234B and 234C can apply on any unpaid tax. None of that is the expensive part for a trader.
The expensive part: forfeited carry-forward
The right to carry forward an F&O loss for 8 years is conditional on filing by the due date. A trader who lost ₹3 lakh and files late loses the ability to shelter ₹3 lakh of future profit, which at a 30% slab is worth around ₹90,000 of future tax. That dwarfs a ₹5,000 late fee. Read F&O loss carry forward.
Stay ahead of the calendar
Map your advance-tax dates with the advance tax calculator, and let Aktai Tax send reminders before each one. Having your turnover, P&L and audit position ready year-round means the July or October filing is a formality, not a scramble.
Frequently asked questions
What is the ITR deadline for F&O traders in AY 2026-27?
If no audit applies, the usual due date is 31 July. If a tax audit applies, the due date extends (typically to 31 October), with the audit report due before that. Dates can be extended by the department, so verify the current notification.
What is the penalty for late filing?
Section 234F charges a late-filing fee, up to ₹5,000 (₹1,000 if total income is under ₹5 lakh). On top of that, interest under 234A/234B/234C can apply on unpaid tax. The larger hidden cost for traders is losing the right to carry forward losses.
Why is the deadline so important for a losing year?
Carry-forward of F&O losses is conditional on filing by the due date. Miss it and you forfeit up to 8 years of loss set-off, which usually costs far more than any late fee.