- ITR-U window: 48 months from the end of the assessment year.
- Extra tax: 25%, 50%, 60% or 70% of tax and interest, depending on how late.
- FY 2021-22 closes 31 March 2027; ITR-U cannot be used for refunds or losses.
Last dates and current extra tax (as on November 2026)
| Financial year (assessment year) | Extra tax if filed now | Rate rises on | Last date for ITR-U |
|---|---|---|---|
| 2021-22 (AY 2022-23) | 70% | — | 31 March 2027 |
| 2022-23 (AY 2023-24) | 60% | 1 April 2027 (to 70%) | 31 March 2028 |
| 2023-24 (AY 2024-25) | 50% | 1 April 2027 (to 60%) | 31 March 2029 |
| 2024-25 (AY 2025-26) | 25% | 1 April 2027 (to 50%) | 31 March 2030 |
The extra tax is a percentage of the tax and interest due on the additional income. For FY 2025-26, a belated return can still be filed until 31 December 2026, and a revised return until 31 March 2027 (with a fee of ₹1,000 or ₹5,000 after 31 December). Both are cheaper than an updated return.
How the extra tax works
| Filed within, from the end of the assessment year | Additional tax |
|---|---|
| 12 months | 25% |
| 12 to 24 months | 50% |
| 24 to 36 months | 60% |
| 36 to 48 months | 70% |
When you cannot file an updated return
- To reduce your tax, increase a refund, or file or increase a loss.
- If a search or survey has been started against you, or an assessment or reassessment for that year is pending or completed.
- Beyond 48 months: older years cannot be fixed with ITR-U.
“I never filed for several years”
If TDS was deducted and you simply never filed, ITR-U can cover only the last four assessment years, and only where it increases tax or brings in unreported income. Years with excess TDS and no tax due are not helped by ITR-U, because it cannot be used to claim a refund. Older years can still be picked up by the department if it has information, so get the position reviewed year by year. NRIs with Indian TDS often fall into this; see ITR for NRIs.
How to file
- Work out the additional income and the tax and interest on it.
- Pay the tax, interest and additional tax first.
- File the updated return form on the e-filing portal for that year, with the payment details.
- Keep the computation; the department can still ask questions.
Sources
- Taxmann: FAQs on updated return of income (ITR-U)
- Business Today: ITR-U deadline extended to 48 months (Budget 2025)
- Income-tax e-filing portal
Frequently asked questions
What is the last date to file ITR-U for AY 2023-24?
What is the last date for ITR-U for FY 2021-22?
How much extra tax is payable on an updated return?
Can I file ITR-U to claim a refund?
Please note: this guide is general information based on the rules as they stood on the review date above. Regulations and RBI/CBDT procedures change often — please get advice on your specific facts before acting.