The July 31, 2026, deadline for filing income tax returns is crucial for salaried individuals, pensioners, students and other taxpayers who are not required to get their accounts audited. Missing this deadline does not mean you can no longer file your return, but you have to pay a late filing fee. The amount you pay depends on your total income, with the Income Tax Act, 2025, prescribing a fee.Here's how the late filing fee is calculated and the deadlines you should keep in mind if you miss the July 31 due date.Also read: ITR filing mistakes to avoid before July 31 deadline: Expert reveals 5 mistakes that can lead to delays, failure of ITR form submissionWhat is the fee for late filing of income tax return (ITR) under the new Income Tax Act, 2025?As per the income tax official website, Section 428 of the Income Tax Act, 2025, prescribes the fee for delayed filing of income tax return. The amount is the same as under the old Act (Section 234F of 1961 Act): (i) Rs 1,000 if the total income does not exceed Rs 5 lakh; (ii) Rs 5,000 in any other case Note: This fee applies for returns under the new Income Tax Act, 2025 (Tax Year 2026 -27 onwards). For AY 2026-27 and earlier years, the fee as prescribed under Section 234F of the old Act will apply.Chartered accountant Abhishek Soni, CEO & co-founder, Tax2win explains, “The late filing fee depends on your total income, not on the type of ITR you file. If your total income exceeds Rs 5 lakh, you may have to pay a late filing fee of Rs 5,000 under Section 234F. If your total income is up to Rs 5 lakh, the maximum late filing fee is Rs 1,000. Taxpayers whose income is below the basic exemption limit generally do not have to pay this fee, but they may still have to pay interest if any tax remains unpaid. Apart from the fee, filing late can also delay your refund and prevent you from carrying forward certain losses.”What is the last date to file a belated return for AY 2026-27 under the old Act?As per the income tax website, a belated return for Assessment Year (AY) 2026–27 may be furnished on or before December 31, 2026, or prior to the completion of the assessment, whichever occurs earlier. Further, in accordance with Section 234F of the Act, a fee for delayed filing will be levied at Rs 1,000 where the total income does not exceed Rs 5,00,000, and Rs 5,000 in all other cases.E-verification of ITR is necessaryAfter filing your income tax return, the next important step is to e-verify it within the prescribed time limit of 60 days. If you fail to do so, your ITR will not be treated as a valid filed return. Taxpayers can complete e-verification using Aadhaar OTP, net banking, a digital signature, or any other prescribed mode.