What’s new for FY 2025-26 — Budget 2026 changes
Three significant changes take effect from AY 2026-27:
The due date for ITR-3 and ITR-4 (non-audit business and professional taxpayers) has been extended from 31 July to 31 August, giving these filers one additional month.
The due date for filing revised returns has been extended from 31 December to 31 March of the subsequent tax year, with a nominal fee applying if the revision is made after December. The window for filing an Updated Return (ITR-U) has been extended from 2 years to 4 years from the end of the relevant assessment year, with a sliding additional tax penalty — 25% within 12 months, 50% within 24 months, 60% within 36 months, and 70% within 48 months.