ITR Revision Deadline Extended In Union Budget 2026-27: In a taxpayer-friendly move, the government on Sunday proposed extending the deadline for filing revised income tax returns (ITRs) to March 31 with
a nominal fee, replacing the earlier cut-off of December 31, said Finance Minister Nirmala Sitharaman during her Budget Speech 2026-27.
She also said individuals filing ITR-1 and ITR-2 will continue to file till 31st July, while non-audit business cases and trusts will be allowed time till 31st August. The Income Tax Act, 2025, will come into effect from 1st April, 2026.
The extended timeline would give taxpayers additional time to correct errors, disclose missed income and ensure better compliance without rushing through the process.
The move is expected to benefit salaried individuals, small taxpayers and professionals who often receive revised financial information or face reconciliation issues after the original filing deadline. By allowing revisions till the end of the financial year, the government aims to reduce disputes, improve voluntary compliance and lower the need for litigation.
(This is breaking. Details will be added shortly.)
