ITR Filing 2025: The Central Board of Direct Taxes (CBDT) has noticed the new income tax updated return form, ie ITR-U. This form has been prepared on the basis of changes made in Budget 2025 and has come into force from 1 April 2025.
The biggest change is that now taxpayers will get 48 months i.e. 4 years to file updated returns. Earlier this deadline was 24 months, which has been extended to the Finance Act 2025. This means that you can now file updated ITRs for FY 2020-21, 2021-22, 2022-23 and 2023-24.
More tax will have to be paid for filing late
If you file an ITR-U in the first year of the date, you will have to pay 25% additional tax on tax and interest. In the second year it will increase to 50%. It will have to pay 60% tax in the third year and 70% in the fourth year.
What is the deadline of ITR-U for every year?
| FY (FY) |
ITR -U deadline |
| 2020–21 | 31 March 2026 |
| 2021–22 | 31 March 2027 |
| 2022–23 | 31 March 2028 |
| 2023–24 | 31 March 2029 |
It is also important to take care of legal changes
Section 139 (8A) of the Income Tax Act has also been amended. Now if a show-cose notice is issued against you under Section 148A 36 months after the end of an assessment year, then you cannot file ITR-U for that year. However, if the assessing officer under section 148A (3) orders that the case is not worth the re-assessment, you can file ITR-U within 48 months.
Section 140B has also been updated to include increased tax on late filing. Also, changes have been made in Rule 12ac, so that the new ITR-U process can be fully implemented.
Some conditions will remain the same as before
- Refund cannot claim through ITR-U.
- You cannot reduce the income shown in the old returns.
- Loss carry forward also cannot be done with ITR-U.
- If the Income Tax Department has already opened a case of any year, then you cannot file ITR-U for that year.
Also read: Explainer: How will the salary of up to ₹ 14.65 lakh be tax free in New Tax Regimm? Understand complete calculation