31 August 2026 is an important Income Tax deadline for taxpayers with business or professional income whose accounts are not subject to tax audit. Eligible taxpayers filing ITR-3, ITR-4, ITR-5 or ITR-7 should complete their returns by the due date. ITR-3 generally applies to individuals/HUFs with business or professional income, while ITR-4 covers eligible taxpayers under presumptive taxation.
Taxpayers who miss the applicable filing deadline may face a late filing fee of up to ₹5,000, subject to applicable provisions and income limits.
15 September 2026 is another key date for the second advance-tax installment, which generally takes total advance tax paid to 45%, after considering earlier payments. Presumptive taxpayers may follow separate advance-tax rules.
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