Taxpayers also get more flexibility to correct mistakes: the time limit to file a revised return has been increased from 9 ...

Taxpayers would continue to use existing income tax return (ITR) forms to report income for 2025-26 (FY26), even as revamped ...

Moving beyond rate-centric reforms, the government has focused on re-designing the compliance lifecycle spanning original ...

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

In her Union Budget 2026 speech on February 1, FM Nirmala Sitharaman had said, “The simplified Income Tax Rules and Forms ...

Sitharaman said, "I propose to extend time available for revising returns from 31st December to up to 31st March with the ...

The Income Tax Department has released the draft Income Tax Rules, 2026. These new rules are proposed to come into effect ...

From April 1, 2025, taxpayers earning up to ₹12 lakh can enjoy zero income tax under the new tax regime, following a higher ...

After Budget 2026, correcting past income tax mistakes has become significantly more expensive. Under the updated return (ITR ...

According to the new rules, you will be able to claim your TDS refund even if you file your income tax return late.

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