Budget 2026: Delayed Tax Return Deadline Extended to March 31 with Nominal Fee
Budget
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CNBC TV18•01-02-2026, 14:29
Budget 2026: Delayed Tax Return Deadline Extended to March 31 with Nominal Fee
- •The Union Budget 2026-27 extends the deadline for filing delayed tax returns from December 31 to March 31.
- •A nominal fee will be applicable for delayed filings: ₹5,000 under Section 234I for most, and ₹1,000 for those with taxable income up to ₹5 lakh.
- •The Budget introduces staggered timelines for tax returns and an automated scheme for small taxpayers to simplify compliance.
- •Experts like Avnish Arora and Kamal Poddar view these changes as taxpayer-friendly, promoting ease of compliance and inclusion.
- •Sanjiv Bajaj and Venkatesh Naidu highlight the Budget's balance between growth and fiscal discipline, improving transparency and trust.
Why It Matters: Budget 2026 extends the delayed tax return deadline to March 31 with a nominal fee, simplifying compliance.
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