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Index Fund Corner
Sponsored
| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
The decision comes as a relief to individuals who may have missed the original deadline or need to make revisions to their filed returns.
The CBDT has urged taxpayers to make use of this extended time to ensure accurate and complete filing of their returns.
Individuals should verify their Form 26AS and other relevant documents to avoid any discrepancies when filing.Belated ITR
Taxpayers who missed the original deadline for filing their ITR must submit their belated return by January 15.
Filing a belated return will prevent further penalties and interest charges, although the taxpayer may still be liable to pay a late filing fee under Section 234F of the Income Tax Act.
Revised ITR
If a taxpayer has already filed their ITR but later realises that there are errors or omissions, they can file a revised return by January 15. This allows taxpayers to correct mistakes, such as underreporting income or claiming incorrect deductions, without facing severe consequences.
However, the revised return should reflect the correct income details, and taxpayers must pay any additional tax due, if applicable.
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