Updated Return Rules Amended: Filing of Loss-Adjusted Returns Allowed from FY 2026-27

Last updated: 02 February 2026

The Government has proposed an amendment to Section 263 of the Income Tax Act, 2025, to expand the scope for filing updated returns of income. Currently, Section 263(6) allows taxpayers to file an updated return within 48 months from the end of the financial year following the relevant tax year, sub

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