Central Board of Direct Taxes (CBDT) has notified ITR-U (updated), a form that allows taxpayers to rectify errors or omissions and file your previous Income Tax Return. ITR (U) was introduced under ...

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 ...

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

AIS analytics now detect non-filers where pension and interest income exist. Voluntary filing through ITR-U helps avoid notices under Sections 142(1) and 148, saving professional costs and compliance ...

The legal heirs are responsible for filing the return of income from 1st April till the date of death of the deceased and ...

The government has informed Parliament that more than 24.64 lakh income tax returns have been pending for processing for over ...

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.

The National Board of Revenue (NBR) is likely to extend the income tax return deadline by another month to March 31, marking the fourth extension this year.