1.3K views | For the assessment year 2020-21, the last date to file your income tax returns without penalty is November 30. Moreover, anyone can refile an ITR if there has been a mistake or omission in the original tax return under Section 139(5) of the Income Tax Act, 1961. In this edition of the Explained series, find out how to e-file your return and the mistakes to avoid. Watch the video for more. | moneycontrol.com | Facebook

Following the passage of the New Income Tax Bill, 2025, Finance Minister Nirmala Sitharaman outlined key amendments to the existing Income Tax Act, 1961 in the Rajya Sabha. The changes include: tax exemptions on dividends, interest, and long-term capital gains for sovereign wealth and pension funds investing in infrastructure between 2020–2030, abatement of all block period assessments in search cases to boost Ease of Doing Business, clarification of the Rs. 75,000 standard deduction for salarie