BIG ITR Changes in Union Budget 2026 🔥 Due Date Extended | Revised, Belated & Updated Return Rules

Union Budget 2026 has introduced major changes in Income Tax Return (ITR) filing rules under the Income-tax Act, 2025 and Income-tax Act, 1961.
In this video, we explain all return filing changes in detail, applicable from AY 2026-27, in a simple and practical manner for taxpayers.

🔍 What you’ll learn in this video:

✅ ITR Due Date Changes (Section 263)
• Due date extended from 31st July to 31st August for
– Non-audit business & profession cases
– Partners of non-audit firms & eligible spouses
– Certain trusts
• ITR-1 & ITR-2 due date remains 31st July

✅ Revised Return Timeline Extended
• Time limit increased from 9 months to 12 months
• Now taxpayers filing belated returns also get time to revise
• New fee introduced for revised returns filed after 9 months

✅ Updated Return – Key Relaxations
• Updated return now allowed for reduction of losses
• Greater flexibility for correcting earlier loss claims

✅ Updated Return After Reassessment Notice
• Updated return allowed even after notice u/s 148 / 280
• Additional tax payable with extra 10% charge
• Immunity from penalty on disclosed income

✅ Belated Return for NPOs (Section 349)
• Registered Non-Profit Organisations can now file belated returns

📅 Applicability:
• Income-tax Act, 2025 → From 1 April 2026 (Tax Year 2026-27)
• Income-tax Act, 1961 → From 1 March 2026 (AY 2026-27)

👉 This video is a must-watch for salaried individuals, business owners, professionals, partners, trusts, NPOs & tax practitioners.

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Видео BIG ITR Changes in Union Budget 2026 🔥 Due Date Extended | Revised, Belated & Updated Return Rules канала Personal Tax and Finance