FM proposes to increase time limit for filing revised IT returns from Dec 31 to Mar 31

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....M proposes to increase time limit for filing revised IT returns from Dec 31 to Mar 31<BR>Income Tax<BR>Dated:- 1-2-2026<BR>PTI<BR>New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Sunday p....

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....roposed to increase time limit for filing revised income tax (I-T) return from December 31 to March 31, on payment of nominal fee. The government also proposed reduction in TCS rate for pursuing edu....

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....cation and medical education under liberalised remittance scheme from 5 per cent to 2 per cent. Tax Collected at Source (TCS) rate on sale of overseas tour packages was announced to cut to 2 per cen....

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....t from 5 per cent. The rate was 20 per cent earlier. She also proposed a rule-based automated process for small taxpayers in FY27 Budget. In her Budget speech, Sitharaman announced a proposal to e....

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....xempt award given by Motor Accident Claims Tribunal from income tax. PTI TEAM TRB<BR> News - Press release - PIB....