Budget 2026 proposals will allow taxpayers to file updated returns to reduce claimed losses, provided specific conditions are met. This amendment, effective April 1, 2026, aims to enhance voluntary ...

With the December 31 deadline for filing revised income tax returns now over, many taxpayers who later spot missed income or ...

If you haven't filed your Income Tax Return (ITR) for the financial year 2024-25 (FY25), there's no need to panic. Even if ...

New rules allow taxpayers to file revised income tax returns until March 31 for a fee. This extension, effective from April 1, 2026, benefits individuals with international tax obligations. A fee of ...

New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification.

New Delhi: The government has extended the deadline for revising Income Tax Returns (ITRs) till March 31 of the relevant ...

The amount of the income tax refund is equal to the excess tax paid, which is not taxable and cannot be considered income.

Missed filing your ITR ? The deadline may be over, but the law still gives you a chance to come clean with extra cost. Today's Ask Wallet Wise query decodes how to file the missed return for FY25 The ...

After Budget 2026, correcting past income tax mistakes has become significantly more expensive. Under the updated return (ITR-U) framework introduced through the Finance Bill, 2026, taxpayers may have ...

The Budget 2026 introduces significant penalties for correcting past income-tax errors with the updated Income Tax Return (ITR-U) provisions.

India’s income tax system will undergo a major overhaul from April 1, 2026, according to various reports. The Income Tax ...

Finance Minister Nirmala Sitharaman clarified this during her Budget speech, saying that only specific taxpayers would get extra time, while most individuals would continue to follow the existing ...