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The Economic Times

Personal Finance / The Economic Times

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Revised ITR deadline extended with a penalty in Budget 2026

Finance Minister Nirmala Sitharaman has proposed extending the deadline for revising income tax returns from December 31 to March 31, allowing for a nominal fee. This change aims to address issues faced by taxpayers, particularly those with foreign income, by better aligning Indian tax timelines with global practices and reducing disputes.

1 Feb 2026 12:10 pm