The government has released updated Income Tax Return forms for Assessment Year 2026–27. The revised ITR-U enables taxpayers to correct past filings, with the facility available up to four years. Filing timelines determine applicable penalties. After filing, ITR-V acts as the verification document that taxpayers must submit to complete the process.
Budget 2026 reportedly pushes the revised Income Tax Return (ITR) deadline to March 31, 2026, but the benefit applies only starting Assessment Year 2026-27. For AY 2025-26, the extension is not available. Taxpayers can still file revised ITRs to correct mistakes, add missed income, or reflect changes in tax laws within a new 12-month window after the tax year ends.
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