Finance Bill 2026: Resetting The Return Calendar Under The Income Tax Act, 2025

Raj Jaggi | Last updated: 13 February 2026

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The Finance Bill 2026 introduces significant updates to the Income Tax Act, 2025, aiming to improve tax compliance and align filing deadlines with business realities. Key changes include a rationalised calendar for income return filing, with different due dates for various taxpayer categories, and an extended time limit for filing revised returns. These reforms are designed to provide taxpayers with adequate time for accurate financial reporting, encourage voluntary compliance, and reduce errors.

Filing the return of income is not merely a statutory obligation; it is the primary interface between taxpayers and the tax administration. Through this process, taxpayers disclose financial information, compute tax liabilities, and confirm their compliance responsibilities. Over time, tax administ

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About the Author

Raj Jaggi

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CA. Raj Jaggi is a Chartered Accountant based in New Delhi, primarily practising in the field of Goods and Services Tax (GST) consultancy, litigation support, and advisory services. After being associated with the leading indirect tax firm A.K. Batra and Associates for nearly 19 years, from June 2007 to March 2026, he ... Read more

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