05-February-2026
Taxation
 
Budget 2026 tightens ITR filing rules: Correcting old tax mistakes will cost you up to 70% extra
04-Feb-2026

After the presentation of Union Budget 2026, the government, through the Finance Bill, 2026, has clarified the provisions relating to the filing of Updated Income Tax Returns (ITR-U) under the Income-tax Act, 2025. The Income Tax Department has released a set of FAQs explaining the scope, timelines and additional tax payable in such cases. Below are the key provisions explained, based strictly on the official FAQs issued after Budget 2026.

News Source:- https://www.financialexpress.com/money/budget-2026-tightens-itr-filing-rules-correcting-old-tax-mistakes-will-cost-you-up-to-70-extra-4129220/?ref=personalfinance_hp
 
 
 

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