The Income Tax Department may have rolled out all ITR forms for the Assessment Year 2025â 26. But before you rush to file your income tax return, here's something important to know â the actual ...
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 ...
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ITR-U: What is it, how filing updated income tax return is helpful – who can submit and who cannot | Explained
However, the taxpayers who miss the regular deadline for their ITR or make a mistake on a previous one, the Income Tax Department offers them a golden window to do so through the Updated Return or ITR ...
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 ...
For millions of taxpayers, Budget 2026-27 has quietly changed how and when income tax returns (ITRs) must be filed. While there was no change in tax slabs, the government has redrawn ITR timelines, ...
ITR-U can be used in cases such as under-reporting or incorrect reporting of income, selecting the wrong head of income, or applying an incorrect tax rate. December 2025 was an anxious month for many ...
Did our AI summary help? New income tax return (ITR) forms for the financial year ending March 2026 and the assessment year 2026-27 are expected to be notified soon. While the forms have been ...
Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors that led to a shortfall in tax payment. Kindly note that this illustration ...
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