Quick summary
Miss an ITR deadline and you pay interest, penalties, and lose the ability to carry forward losses. Here are the key dates Bangalore professionals must track for AY 2026-27.
Key ITR deadlines for AY 2026-27
Assessment Year 2026-27 covers income earned in Financial Year 2025-26 (1 April 2025 – 31 March 2026). These are the central dates every Bangalore professional should track:
- 31 July 2026: Due date for salaried individuals, pensioners, and those not subject to audit
- 31 October 2026: Due date for businesses and professionals subject to tax audit (turnover > ₹1 crore for business / ₹50 lakh for profession)
- 30 November 2026: Due date for companies and those requiring transfer pricing report
- 31 December 2026: Last date to file a belated ITR (with late fee under Section 234F)
- 31 March 2027: Last date to file an updated ITR (ITR-U) for AY 2026-27
Specific considerations for Bangalore IT professionals
Bangalore has a large concentration of IT professionals with income from multiple sources: salary, ESOPs/RSUs from MNCs, freelance consulting, capital gains from equity or mutual funds, and rental income from investment properties.
If you have any of these beyond a simple salary, your ITR form may not be ITR-1. Using the wrong form is a common error that results in a defective return notice.
- Salary only, income < ₹50 lakh → ITR-1
- Salary + capital gains (listed equity, MFs) → ITR-2
- Salary + ESOP perquisite income + capital gains → ITR-2
- Freelance consulting income or business income → ITR-3 or ITR-4
- ESOP sale resulting in capital gains → ITR-2, with Schedule CG carefully filled
- Foreign assets or RNOR/NRI status → ITR-2 with Schedule FA
Looking for a verified professional?
Get quotes from professionals near you. OTP-verified contacts only. No cold calls, no spam.
Find a verified tax consultant in BengaluruPenalties for missing the deadline
Late fee under Section 234F: ₹5,000 if filed after 31 July but before 31 December (₹1,000 if total income is below ₹5 lakh). Plus interest under Section 234A at 1% per month on unpaid tax.
More importantly: if you miss the 31 July deadline, you cannot carry forward losses from equity, business, or house property to the next year. A significant financial cost for Bangalore investors with portfolio losses.
Get started free
Find a verified tax consultant in Bengaluru
Free for customers. Up to 3 OTP-verified professionals respond within 24 hours. No spam, no obligation.