ITR filing: Taxpayers who miss the regular deadline for filing their income tax return get an additional chance through the updated income tax return (ITR-U) facility, introduced under Section 139(8A) ...

Missed reporting income or made errors in your ITR? Taxpayers can still correct mistakes using ITR-U. With March 31 ...

The income tax laws allow a person to file a revised Income Tax Return (ITR) by December 31, in case the taxpayer finds some mistakes or omissions.

Taxpayers can file updated returns before March 31 to correct past omissions. They have to pay the due taxes, along with applicable interest and additional tax. Filing updated returns (ITR-U) under ...

The Income Tax Act, 2025 replaces the old 1961 law from April 2026, streamlining compliance, revising deadlines, rationalising STT and TCS and introducing key relief measures for taxpayers.

Tax experts say reporting gaps often arise due to misunderstanding of disclosure rules, reporting timelines, and the ...

Budget 2026 introduces major tax rule changes from April 2026 including the new Income Tax Act 2025, TCS revisions, STT hike, revised ITR deadlines and buyback taxation changes.

Aam Aadmi Party MP Raghav Chadha proposed reforms to ease financial burdens, advocating for optional joint income tax filing ...

The Income Tax Department has identified 63,000 restaurants for potential income under-reporting. A nationwide survey revealed suppression of sales amounting to Rs 408 crore. Restaurants are urged to ...

Several important changes in India’s tax system will come into effect from April 1, 2026. The new Income-tax Act, 2025 will replace the Income-tax Act, 1961, which has been in place for more than 60 ...

Overview: Paper tax filing remains an option for taxpayers who prefer reviewing forms and details manually before submitting their return.The process includes d ...