📢 Important Update from the Income Tax Department

The Income Tax Act, 1961 will be repealed effective 1st April 2026 under Section 536 of the Income Tax Act, 2025.

As per the new provisions, deductors/collectors can file correction statements only up to 31st March 2026 for the following financial years: ✅ FY 2018–19 (Q4) ✅ FY 2019–20 to FY 2022–23 (All Quarters) ✅ FY 2023–24 (Q1 to Q3)

⚠ After 31st March 2026, no correction statements under the old Income Tax Act, 1961 will be accepted.

👉 All deductors, collectors, and stakeholders are advised to ensure that necessary corrections are filed well before 31.03.2026 to avoid being time-barred.

💼 VvityaBazar Financial Services is here to help you stay compliant and ensure smooth filings before the deadline.

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