If you missed filing your Income Tax Return (ITR) this year, don’t panic just yet. The Income Tax Department still allows taxpayers to file a belated return until December 31, 2025. However, there are ...

Once the deadline for filing the Income Tax Return (ITR) has passed, taxpayers have the option to submit a belated ITR till December 31, 2025, but they will incur a late fee. It’s important to note ...

Section 139(8A) now permits filing of ITR-U within 48 months from the end of the assessment year. However, it cannot be used to reduce tax liability, claim refunds, or bypass departmental ...

Filing your Income Tax Return (ITR) on time is important, but rushing at the last minute often leads to mistakes. If you filed your ITR in a hurry for Assessment Year (AY) 2025–26 and later realized ...

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 ...

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

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

Budget 2026 brings major relief to taxpayers by allowing revised and updated ITR filing, reduced penalties, and immunity from prosecution, easing stress for those facing income tax notices.

However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.

Missed filing an ITR for HUF income? Today’s Ask Wallet Wise explains why a member has no recourse once the deadline to file a revised ITR has expired. The Ask Wallet-Wise initiative offers expert ...

The drafts have been opened for public comments for 15 days, until February 22, 2026. The tax department has invited ...