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Missed the ITR Filing Deadline? Here’s What Happens If You Don’t File Your Return on Time
If you missed filing your Income Tax Return (ITR) this year, don’t panic just yet. The Income Tax Department still allows taxpayers to file a belated return until December 31, 2025. However, there are ...
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ITR filing after due date: Do you need to pay a late fee even if you have nil tax liability?
Once the deadline for filing the Income Tax Return (ITR) has passed, taxpayers have the option to submit a belated ITR till December 31, 2025, but they will incur a late fee. It’s important to note ...
Filing taxes can be a complicated process, especially for entities that fall outside the common categories of individual taxpayers. One such form that caters to these unique entities is the ITR-5 form ...
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 ...
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 ...
Filing your Income Tax Return (ITR) on time is important, but rushing at the last minute often leads to mistakes. If you filed your ITR in a hurry for Assessment Year (AY) 2025–26 and later realized ...
India’s income tax system will undergo a major overhaul from April 1, 2026, according to various reports. The Income Tax ...
Taxpayers would continue to use existing income tax return (ITR) forms to report income for 2025-26 (FY26), even as revamped ...
Tax authorities initiated scrutiny and proposed addition solely because share acquisition details were not properly disclosed in the ITR. The case reinforces that for directors, the ITR functions as a ...
Missed filing an ITR for HUF income? Today’s Ask Wallet Wise explains why a member has no recourse once the deadline to file a revised ITR has expired. The Ask Wallet-Wise initiative offers expert ...
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 drafts have been opened for public comments for 15 days, until February 22, 2026. The tax department has invited ...
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