March 15 Advance Tax Deadline and Proposed Extension for Revised Tax Returns

The final deadline for paying advance tax for FY 2025-26 is March 15, applicable to taxpayers whose tax liability exceeds Rs 10,000 after TDS. Missing this deadline can result in interest penalties under Sections 234B and 234C. Additionally, the government has proposed extending the deadline for filing revised income tax returns from December 31 to March 31 following the tax year, potentially with a nominal fee for late revisions. These changes aim to ease compliance for taxpayers.