India extends tax return correction deadline to March 31, 2026, with fee, under new 2025 law.

India has extended the deadline for filing revised income tax returns from December 31 to March 31, 2026, with a nominal fee, to help taxpayers correct errors and report missed income. The change, effective April 1, 2026, under the new Income Tax Act, 2025, aims to improve compliance and reduce stress. Original filing deadlines remain: July 31 for ITR-1 and ITR-2, and August 31 for non-audit business returns and trusts. The government also reduced TCS rates on education, medical education, and overseas tour packages from 5% to 2%, and exempted Motor Accident Claims Tribunal awards from income tax. A rule-based automated system for small taxpayers will launch in FY 2027.