Rs 1,000 or Rs 5,000 late filing fee for missing ITR filing deadline of July 31? How much fine you may need to pay and why

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ITR filing deadline: The July 31, 2026, deadline is crucial for many taxpayers filing income tax returns. Missing this date incurs a late filing fee based on total income. Belated returns for AY 2026-27 can be filed until December 31, 2026. E-verification within 60 days is necessary to validate the filed return.