Now, taxpayers can file updated ITR for four years

The Income Tax department has notified ITR-U which will allow taxpayers to file updated returns for four years from the end of relevant assessment year (AY). The Finance Act, 2025, had extended the time period for filing updated returns (ITR-U)...

PTI

New Delhi, Updated At : 03:47 AM May 21, 2025 IST

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The Income Tax department has notified ITR-U which will allow taxpayers to file updated returns for four years from the end of relevant assessment year (AY).

The Finance Act, 2025, had extended the time period for filing updated returns (ITR-U) to 48 months from 24 months from the end of relevant AY.

For ITR-U filed within 12 months and 24 months of the end of relevant AY, 25 percent and 50 percent additional tax have to be paid, respectively. For ITR-U filed within 36 months and 48 months, 60 percent and 70 percent additional tax will have to be paid by a taxpayer.

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

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