ITR filing last date for individuals not subject to tax audit is 31st July 2026 & 31st August 2026 as applicable for FY 2025-26 (AY 2026-27). Missing this deadline can lead to interest charges under Section 234A and a late filing fee up to Rs. 5,000 under Section 234F. However, if you miss the due date, you can still file a belated return until 31st December of the assessment year.Budget 2026 UpdateThe due date to file revised returns has been extended to 31st March from the existing 31st December. Due date to file ITR-3 and ITR-4 extended to 31st August with effect from FY 2025-26 (AY 2026-27)Last Date to File ITRFor FY 2025-26 (AY 2026-27), the income tax filing last date for non-audit taxpayers is 31st July 2026 for ITR-1 & ITR-2. For non-audit taxpayers required to file ITR-3 & ITR-4 the due date is 31st August 2026.

The purpose of this act is to simplify the complex Income Tax Act of 1961. The new laws aims at simplification of tax provisions, removal of redundant sections, and keep pace with the evolving technology and economic environment. The new Income Tax Act 2025 come into force from 1st April 2026.Budget 2026 UpdateIncome Tax Act 2025 will come into effect from 1st April 2026 as proposed in the budget.The due date to file ITR-3 & ITR-4 for non-audit cases has been extended to 31st August.The due date to file revised return has been extended to 31st March from the existing 31st December. Purpose of the New Income Tax actIn the Budget Speech of 2024, Finance Minister Nirmala Sitharaman revealed the government's intention to scrutinise the Income Tax Act, 1961 in totality. Through this scrutiny, the Act was to be made more concise so that the taxpayers could easily read and understand it.The primary objective mentioned by the Minister is to reduce disputes and litigation involving the tax system. The government would thereby enhance tax certainty with the promise of offering clarity and ease of compliance for taxpayers. After the announcement, the Income Tax Department launched a public consultation process where taxpayers could propose changes they would like to see in the new law.

The ITR-3 form is specifically designed for individuals and Hindu Undivided Families (HUFs) engaged in business or profession, who are required to maintain books of accounts. Budget 2026 UpdateDue date to file ITR-3 for non-audit cases extended to 31st August 2026 from FY 2025-26 (AY 2026-27).The due date to fill ITR-3 for audit cases remains the same 31st October 2026.What is the ITR-3 Form?The ITR-3 is applicable for individual and HUF who have income from profits and gains from business or profession. One can call it a master Form, as this is the one form where an individual or HUF can report all the possible incomes.Who Should File ITR-3 Form?Individuals and HUFsCarrying on business under presumptive schemeCarrying on ProfessionIncome From Dividend/InterestIncome from freelancing or consultancyIncome from F&O Trading/Intraday/Share TradingThe return may include income from house property, salary/pension, capital gains, and other sources.Remuneration received from a partnership firm (Not from LLPs)Who is Not Eligible to File the ITR-3 Form?No persons other than individuals & HUF are eligible to file ITR -3 Form.Individuals & HUFs not having income by way of business or profession or partnership firm are not eligible to file the ITR-3 Form. In other words, any person who is eligible to file ITR-1, ITR-2 and ITR-4 is not eligible to file ITR-3.Due date for Filing ITR-3For non-audit cases, the due date  to file ITR-3 for FY 2025-26 (AY 2026-27) is 31st August 2026 and for accounts requiring audit, the due date is 31st October 2026.How to E-File ITR-3 with ClearTax?On the ClearTax platform taxpayers can file their Income Tax Return (ITR). Here is a guide on filing ITR-3 if you have income from business or profession, intra-day trading or Futures and Options (F&O) trading. Before we get started, you should have the following documents at hand to pace up the process:PANAadhaarBank account detailsForm 16 if applicableInvestments detailsBooks of accountStep 1: LoginLogin to your ClearTax account (www.cleartax.in). You can file ITR by yourself in a few simple steps.

Form ITR-4 should be filed by taxpayers having business & professional income, having opted for presumptive taxation under Sections 44AD, 44ADA, and 44AE with total income not exceeding Rs. 50 lakhs. Budget 2026 changed ITR4 due date to 31st August for non-audit taxpayers. Budget 2026 UpdateDue date to file ITR-4 for non-audit cases has been extended to 31st August 2026 for FY 2025-26 (AY 2026-27)The due date to file ITR-4 for audit cases is 31st October 2026What is the ITR-4?ITR-4 of Sugam is an Income Tax Return form for resident individuals, HUF, and partnership firms (excluding LLPs) declaring business & professional income under presumptive taxation as per Section 44AD, Section 44ADA and Section 44AE with total income up to Rs. 50 lakhs. Who Should File ITR-4?ITR-4 is to be filed by the individuals/HUF/Partnership firm who fulfill the following conditions:Is a Resident of India as per Income Tax ActHaving Business or Professional IncomeIncome from business income calculated under Section 44AD or 44AEIncome from profession calculated under Section 44ADALong-term capital gains income on equity share & mutual funds up to Rs. 1.25 lakhs (having no brought-forward or carry-forward capital loss)Should not have income from more than one house propertyWho Should Not File ITR-4?An individual whose total income exceeds rupees 50 lakhs.An individual who is either a director in a company An individual who has invested in unlisted equity shares cannot use this form.An individual, HUF or partnership firm who is required to maintain the books of accounts under the Income-tax Act, 1961.Resident but not ordinarily residents (RNOR) and Non-residentsIndividuals  who have earned income through the following means: Lottery, racehorses, legal gambling, etc.Individual who has more than one house propertyTaxable capital gains (short-term and long-term)Agricultural income exceeding Rs 5,000A resident that has assets (including financial interest in any entity) outside India or is a signing authority in any account located outside IndiaIndividuals claiming relief of foreign tax paid or double taxation relief under section 90/90A/91Gains from Virtual Digital Assets (Crypto currency)Individuals for whom the TDS has been deducted under Section 194NDue Date to File ITR-4 For FY 2025-26 (AY 2026-27)The last date to file ITR-4 for FY 2025-26 (AY 2026-27) was changed in Budget 2026 to 31st August 2026 for non-audit taxpayers.

Budget 2026 UpdateBudget 2026 proposed significant STT rate hike on futures & options effective on all trades done on or after 1st April 2026.STT on futures was changed to 0.05% from 0.02% which is a 150% increase.STT on options premium and exercised options has been increased to 0.15% from 0.10% and 0.125% respectively. Securities Transaction Tax (STT) is a direct tax levied on every purchase and sale of securities listed on the stock exchange. It is collected at source by the exchange to ensure tax compliance and curb excessive market speculation. As per Budget 2026, the STT rates have been hiked to 0.05% on futures and 0.15% on options.  STT Rates ChangesThe STT on futures was increased to 0.05% and the STT on options was increased to 0.15% in Budget 2026. This was aimed to curb excessive speculations as these changes make Futures & Options trading more expensive now.

The National Pension Scheme (NPS) is one of India’s most accepted pension-oriented products. Investing in NPS will give you an edge over fixed-income schemes and allow you to avail tax benefits up to Rs.1.5 lakh under Section 80C and Section 80CCD of the Income Tax Act, 1961. It also allows you to choose the allocation of investments. While the active choice will allow you to determine the plan and investment percentage, the auto choice will allocate your investments based on your age and risk profile.Pension Fund ManagersAt present, there are 11 NPS pension fund managers in the country.SBI Pension Funds Pvt. Ltd.LIC Pension Fund Ltd.UTI Retirement Solutions Ltd.HDFC Pension Management Co. Ltd.ICICI Prudential Pension Fund Management Co.

Once the Employees' Provident Fund Organisation (EPFO) introduced the UAN in 2014, accessing EPF accounts became increasingly easy for all registered members. The Universal Account Number (UAN) helps an employee maintain a single PF account throughout their career, even when switching jobs. In addition, one can check their EPF account balance only after completing their UAN activation. Therefore, knowing the procedure for UAN card download is critical. It allows you to keep both physical and digital copies of this important document. Here you can find the full information regarding downloading the UAN card.Requirements for Downloading the UAN CardBefore we proceed with the steps to download the UAN card, let us familiarize you with some activation prerequisites for your UAN.You need to perform these two steps before downloading the UAN card:UAN ActivationYou should have your PAN card, Member ID, Aadhaar number and UAN ready for this. To submit these details, you must access the ‘Activate UAN’ option by opening the official EPFO portal. Once you enter the details, you must confirm them by entering the authorisation PIN sent to your mobile number. Following this, your UAN is activated, and you receive an account password on your number. You can change this password later.Submission of Required DocumentsThis is, however, the most important step since your UAN will not be activated without it.

Universal Account Number or UAN is the key to accessing all services related to your EPF (Employees’ Provident Fund) account, such as PF balance check, PF withdrawal, loan against PF, etc. Your UAN remains unchanged throughout your life, linking all your member IDs from different jobs, making it easy to manage your EPF account across multiple employers. To securely access all the EPFO services, a UAN password is essential. Here’s how to change your UAN password in case you forget or misplace it. Key HighlightsYour UAN password is crucial for you to access the following featuresPassbook downloadPF transferPF balance & withdrawalOnline claimsService historyKYC updatesGrievance statusWhat is the UAN Password?The UAN password is a secure login credential that you create when activating your account on the EPFO Member Portal.To set it up, you’ll need:Your UAN (Universal Account Number)A mobile number linked to your AadhaarOnce your account is activated, the UAN password becomes the key to accessing and viewing your PF details online securely.How to Change UAN Password Online?If you are confused about how to reset a UAN password online, make sure to follow these steps:Go to the EPFO's official website.Choose Services tab > For employees option.Choose the 'Member UAN/Online Service (OCS/OTCP)' option.Choose the option marked as ‘Forgot Password’.Provide your unique UAN number and resolve the CAPTCHA puzzle as shown on your screen.Submit the necessary details before submitting your request.Next, enter some personal information, such as your name, date of birth (DOB), gender, and so on.After entering all the necessary details, go through them once and click ‘Verify’.Enter the OTP sent to your mobile number.Follow the UAN password format while setting up a new password. You will need to enter the new password twice before finally clicking on ‘Submit’. UAN Password Format & ExamplesWhen setting up your UAN password, you must keep the following factors in mind:The password must be at least 7 characters, and it should not exceed 20 characters. Additionally, to strengthen your password, you must use at least one uppercase English letter, one lowercase letter, a special character, a minimum of two digits, and at least four more alphabets. Here are some UAN password examples which can give you some idea before you access the UAN forgot password option:Bikram_321Harish@1990thaKur*89Vaani888#Shruti567@Requirements for UAN Password ResetBefore doing a UAN password reset, you have to ensure that all the following prerequisites are being met:Active UAN: Your Universal Account Number (UAN) should be activated before you reset the EPFO UAN login password. Otherwise, you cannot access the respective EPF account.UAN Account Connected to Your Aadhaar Number: The system verifies your identity when you request a UAN password change link.

Taxpayers who are regarded as residents for income tax purposes should make appropriate disclosure of their foreign income and assets while filing ITR. Schedule FA, and schedule FSI deal with foreign asset disclosure and foreign income disclosure respectively.Failure to make necessary disclosure can attract penalty up to Rs. 10 lakh.Budget 2026 UpdateThe department has noticed that a section of small taxpayers like former students graduated from abroad, ESOP holders of foreign companies, etc, did not completely comply with the foreign asset disclosure requirements. As a nudging initiative, the CBDT has provided a one-time scheme through which the non-compliant taxpayers can disclose their foreign income and assets, with additional taxes and fees as applicable.Also, non-disclosire of foreign immovable assets up to Rs 20 lakh do not attract any penalty. From 1.10.2026, they are also provided immunity from prosecution.What are Foreign Assets?If you’re an Indian resident, foreign assets will comprise of bank accounts in other countries, investments in real estate, stocks, mutual funds and other capital assets outside India, financial interest in any foreign entity, or signing authority over any account located abroad, insurance or annuity contract etc.What is the Importance of Disclosing Foreign Assets in ITR? Disclosure of foreign assets and income in income tax returns is important and ensures compliance with Indian tax laws. Here’s a list of reasons which makes it super important:Legal ComplianceAs per the Black Money Act, 2015, it is mandatory to disclose all foreign assets and income within the Income Tax return in the specified schedules, such as Schedule FA for disclosing foreign assets like a bank account, real estate etc.

Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for the girl child. Parents or legal guardians can invest under this scheme to secure their daughter’s future. Minimum and maximum investment of SSY scheme is Rs. 250 and Rs. 1.5 Lakh respectively, per financial year. Such contributions qualify for section 80C deduction up to Rs 1.5 Lakh.