Income Tax
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Revised ITR Deadlines, Higher STT Part of April 1 Financial Rule Changes
April 1st brought changes including revised ITR deadlines for certain filers and increased STT on futures and options trading. The STT hike aims to curb speculative trading.
💡 Key Fact
Several financial rule changes took effect on April 1, 2026, including revised ITR deadlines and a higher Securities Transaction Tax (STT) on F&O trades.
⚡ Quick Answer
ITR deadlines are revised, and STT on F&O trades is now higher.
What's Happening
- ITR filing deadlines — For ITR-1/2, the deadline is July 31. For ITR-3/4 (non-audit), it's August 31.
- Revised return deadline — You can revise returns until March 31 of next year.
- Increased STT on F&O — STT on futures rose to 0.05% and on options to 0.15%.
Common Mistakes to Avoid
- Missing the ITR deadline
- Not reporting all income
Source: MSN
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