Finance Minister Nirmala Sitharaman on Sunday kept income tax rates and slabs unchanged following last year’s major tax reforms. Finance Minister Nirmala Sitharaman on Sunday kept income tax rates and slabs unchanged following last year’s major tax reforms. She proposed extending the timeline for revising income tax returns from December 31 to March 31 with a nominal fee. FM Sitharaman also suggested staggered deadlines for filing returns: individuals using ITR‑1 and ITR‑2 will continue to file by July 31, while non-audit business cases and trusts will have time untilAugust 31. Non-resident Indians (NRIs) providing capital goods to Indian companies will also enjoy income tax exemption for a period of five years.

Source: dna February 01, 2026 07:58 UTC