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) ...

The Income Tax Department has now enabled utilities for filing updated income tax returns (ITR-U) in ITR-1 and ITR-2 for the assessment years (AY) 2021-22 and 2022-23 as per Finance Act, 2025. Union ...

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.

Missed reporting income or made errors in your ITR? Taxpayers can still correct mistakes using ITR-U. With March 31 approaching, experts advise acting early to avoid higher penalties and ensure ...

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 ...

Several income tax changes will take effect from April 1, 2026, including new ITR filing deadlines, higher STT rates, an ...

Missing the Income Tax Return (ITR) filing deadline can happen for many reasons. You may have missed a document, made an error, or simply overlooked the timeline. However, if you have already filed ...

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.

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 ...