New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification. Eligibility criteria for simplified forms like ITR-1 and ITR-4 have been adjusted ...

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 ...

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 ...

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 ...

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 ...

Experts expect fewer irrelevant disclosures, better system stability and smoother reconciliation with AIS in FY26 returns ...

The Finance Bill, 2026 proposes extending the revised return filing window to twelve months. This gives taxpayers more time to correct mistakes, even after filing belated ...

From April 1, 2026, India’s new Income-tax Act, 2025 will reshape how taxpayers file their returns. While ITR-1 to ITR-7 remain, the draft Income-tax Rules, 2026 tighten eligibility for simplified ...

India has moved from a uniform ITR deadline to a category-based system linked to audits and income complexity. The reform improves compliance efficiency while remaining rooted in statutory ...

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

Income Tax Return: Under the new tax regime, the effective threshold may start from Rs 3 lakh for some, but mandatory filing applies if income crosses the exemption.