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

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

After Budget 2026, correcting past income tax mistakes has become significantly more expensive. Under the updated return (ITR-U) framework introduced through the Finance Bill, 2026, taxpayers may have ...

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 ...

The Budget 2026 introduces significant penalties for correcting past income-tax errors with the updated Income Tax Return (ITR-U) provisions.

Post-Budget FAQs issued by the Income Tax Department reveal some important but lesser-noticed tax changes announced in Budget 2026. These clarifications, part of the Finance Bill 2026, will ...

Income-tax Rules: The Income Tax Department has released draft Income-tax Rules, 2026, effective April 1, 2026, simplifying ITR filing forms and procedures. These draft rules, open for public feedback ...