Missing the income tax return deadline can be stressful, but the Income Tax Department now offers relief through the ITR-U (Updated Return), which lets taxpayers rectify mistakes or file returns even after missing the original due date.

What Is ITR-U?

ITR-U enables individuals and businesses to file an updated return within four years from the end of the relevant assessment year—recently extended from two years to four years as per the latest Finance Act. Use ITR-U to declare missed income, correct errors, or stay tax-compliant, though it cannot be used to claim a refund, show losses, or reduce tax liability.

Timeframe to File ITR-U

• Updated Return (ITR-U) can be filed within 48 months (4 years) from the close of the relevant assessment year.
• Example: For AY 2025-26 (FY 2024-25), the last date to file ITR-U is 31st March 2030.
• For missed returns, you can also file a “belated” return (with penalty) up until December 31 of the assessment year.

Additional Tax Payable Under ITR-U

When filing an updated return, you must pay extra tax in addition to regular tax and interest:

• Filed within 12 months → +25% of tax & interest
• Filed within 24 months → +50% of tax & interest
• Filed within 36 months → +60% of tax & interest
• Filed within 48 months → +70% of tax & interest.

Situations Where ITR-U Cannot Be Used

• To claim a refund
• To reduce tax liability or show losses
• If your case is already under assessment, survey, or search
• If an updated return for the same year has already been filed.

Key Dates for FY 2024-25 (AY 2025-26)

Filing Category	Last Date
Regular ITR filing (non-audit)	15th September 2025
Belated return	31st December 2025
Updated return (ITR-U)	31st March 2030

Fin2Wealth Insight

Mistakes happen—but using ITR-U, taxpayers can correct errors, ensure compliance, and avoid future notices and penalties. Early filing helps minimize additional fees.

With ITR-U, peace of mind is possible—even if the original ITR deadline is missed.