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Based on the new Income Tax Act, 2025, a major change to the eTDS (TDS/TCS) correction rules will take effect on April 1, 2026. This reform significantly reduces the time limit for filing correction statements and introduces a one-time, final deadline for past corrections.
A critical, non-extendable deadline of March 31 2026 has been set for all pending correction statements from FY 18-19 till December 2023
you must file all outstanding corrections for the specified historic periods before March 31, 2026. Failure to do so will permanently bar any future corrections for those periods.
Missing the March 31, 2026 deadline can lead to several severe consequences:
Loss of tax credit
Demand notices
Delayed refunds
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