Income Tax 3 November 2026
India Tax Updates: New Regime, Court Rulings, and ITR Extension
The Indian tax landscape sees several shifts: Bihar’s chief minister urges high‑income taxpayers to surrender 125 free electricity units, while women entrepreneurs seek clarity on Section 80D benefits under the new regime. A high court has overturned the rejection of condonation applications for revised returns, and the finance ministry signals openness to reviewing FPI tax concerns. Additionally, the CBDT has pushed the ITR filing deadline for audit cases to November 21, giving businesses extra time.
- Bihar CM's appeal – Samrat Choudhary asks high‑income taxpayers to voluntarily give up 125 units of free electricity. Read more
- Women entrepreneurs & 80D – Analysis of whether the health‑insurance deduction under Section 80D remains available in the new tax regime. Read more
- Court ruling on condonation – The High Court set aside the rejection of applications to revise returns for five assessment years. Read more
- FPI tax review – Finance Minister Nirmala Sitharaman says the government will consider concerns of foreign portfolio investors to support capital growth. Read more
- ITR deadline extension – CBDT extended the filing deadline for audit‑case returns to November 21, 2026, easing pressure on taxpayers. Read more
Need help understanding this update?
Connect with our domain experts instantly via WhatsApp for customized legal guidance.