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The Finance Minister said, “I propose to extend the time available for revising returns from 31 December to up to 31 March with the payment for nominal fee. I also propose to stagger the timeline for filing of tax returns – individuals with ITR 1 and ITR 2 will continue to file till 31 July, and non-audit business cases or trusts are proposed to be allowed time till 31 August.”
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News18•01-02-2026, 14:25

Union Budget 2026: ITR Revision Deadline Extended to March 31

  • •The government has proposed extending the deadline for filing revised Income Tax Returns (ITRs) from December 31 to March 31.
  • •This extension will come with a nominal fee, aiming to be a taxpayer-friendly measure.
  • •Finance Minister Nirmala Sitharaman announced this change during her Budget Speech 2026-27.
  • •The Income Tax Act, 2025, will be effective from April 1, 2026.
  • •The move provides taxpayers more time to correct errors, disclose missed income, and improve compliance, benefiting salaried individuals, small taxpayers, and professionals.

Why It Matters: The ITR revision deadline is extended to March 31, 2026, offering taxpayers more time for corrections and compliance.

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