
KOCHI: The deadline for individual taxpayers to file income tax returns for the 2025-26 financial year (Assessment Year 2026-27) ends tomorrow.
Salaried employees, pensioners and individuals who are not subject to tax audit are required to file their returns by then. Those who miss the deadline can file a belated return until December 31, but will have to pay the applicable penalty and interest on any tax dues.
Annual income up to ₹4 lakh is not taxable. Under the new tax regime, there will be no tax liability on income up to ₹12 lakh after taking the applicable exemptions and rebates into account.