New Delhi : In case you missed your deadline for ITR Return Filing then don’t worry Nirmala Sitharaman has good news for you ! She has proposed to extend the deadline to file revised and belated income tax returns upto March 31, 2026. For individuals who missed earlier assessment years or had to rectify any mistake in their file can now apply for it.
Mostly the reasons for delay occur due to late Form 16s, confusion around new tax regimes, oversight or missing bank interest details. Earlier, the missed deadline often resulted in higher penalties and limited options to fix mistakes. But this government has got your back.
Announcing the extension, the finance minister said, “I propose to extend the time available for revising returns from 31 December to 31 March with the payment of a 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.”
By enabling this, the government aims to render a more genuine compliance window.
She also said that individuals filing simpler returns—ITR-1 and ITR-2—will continue to have 31 July as their due date while Non-audit business cases and trusts will be given additional time, with a revised deadline of 31 August.
Moreover, she has also confirmed that Income Tax Act 2025, will be effective from 1 April , 2026. With the implication of new law statutory provisions, rules-based framework and digital tax administration the work will be more at ease. In the coming weeks, the detailed rules and ITR forms will be rolled out by the government.
Also Read : Budget 2026 Unveils Seven High‑Speed Rail Corridors To Revolutionise Inter‑City Travel Across India
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