https://www.taxtmi.com/article/detailed?id=15788 Budget 2026 revises filing deadlines (ITR-1/ITR-2: July 31; non-audit entities and trusts: August 31), extends the revised-return window to March 31 for a nominal fee, and introduces a six-month foreign asset disclosure scheme. A new Income Tax Act framework effective 1 April 2026 creates a single tax year, simplifies rules and forms, and allows TDS refunds even after late ITR filing without penalties. Additional measures include exemption of Motor Accident Claims Tribunal interest from income tax, reduced TCS on overseas travel and education remittances to 2%, and tariff changes affecting various imported goods. en-us Sun, 01 Feb 2026 14:53:04 +0530 Sun, 01 Feb 2026 17:26:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15788 Budget 2026 revises filing deadlines (ITR-1/ITR-2: July 31; non-audit entities and trusts: August 31), extends the revised-return window to March 31 for a nominal fee, and introduces a six-month foreign asset disclosure scheme. A new Income Tax Act framework effective 1 April 2026 creates a single tax year, simplifies rules and forms, and allows TDS refunds even after late ITR filing without penalties. Additional measures include exemption of Motor Accident Claims Tribunal interest from income tax, reduced TCS on overseas travel and education remittances to 2%, and tariff changes affecting various imported goods. Articles Budget - Tax Proposals Sun, 01 Feb 2026 14:53:04 +0530 https://www.taxtmi.com/article/detailed?id=15788