Missed income tax return deadline? Audited and transfer pricing extensions

Business Sep 04, 2026

Forgot to file your Income Tax Return (ITR) by August 31, 2026? Don't panic: there are still options.

If you need your accounts audited, you've got until October 31 to file.

For those with international or specified domestic transactions requiring a transfer pricing report, the ITR filing deadline is November 30, 2026.

Late filers face penalties and interest

Late filers face a penalty of up to ₹5,000 (or ₹1,000 if your income is under ₹5 lakh), plus 1% interest per month on unpaid taxes.

You can still submit a belated return by December 31, but some tax benefits (like carrying forward losses) might be off the table.

Missed everything? There's an "updated return" option, but expect extra tax charges between 25% and 70%.

So, act fast and stay in the clear!