New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification.

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 ...

If you haven't filed your Income Tax Return (ITR) for the financial year 2024-25 (FY25), there's no need to panic. Even if ...

Experts expect fewer irrelevant disclosures, better system stability and smoother reconciliation with AIS in FY26 returns ...

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 ...

With the December 31 deadline for filing revised income tax returns now over, many taxpayers who later spot missed income or ...

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

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.

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

A major focus of the draft rules is to make income-tax return (ITR) filing simpler under the new law. The government has ...