By CA Soham Shivankar • May 18, 2025
Who should read this: Individuals or businesses who missed filing their return or want to correct past filings. This guide is updated for Finance Act, 2025 — and covers timelines, taxes, and eligibility.
📄 What is ITR-U?
ITR-U is the Updated Income Tax Return form under Section 139(8A). It lets taxpayers correct errors or omissions from previously filed returns, including original, revised, or belated returns.
🗓️ When can I file it?
You can file ITR-U within 48 months from the end of the relevant assessment year.
Example: AY 2022–23 → last date to file ITR-U is 31 March 2027
💸 Additional Tax Payable (Section 140B)
- Within 12 months → 25% of additional tax + interest
- 12–24 months → 50% of additional tax + interest
- 24–36 months → 60% of additional tax + interest
- 36–48 months → 70% of additional tax + interest
✅ Who can (and can’t) file ITR-U?
- ✅ Missed filing?
- ✅ Reported wrong income?
- ❌ Already filed ITR-U for same year
- ❌ Want to claim refund/exemption
- ❌ Under scrutiny/assessment
⚖️ How to File
- Use portal/utility
- Give reason for update
- Pay tax, surcharge, interest
- Verify via Aadhaar OTP or Netbanking
📁 Documents Required
- PAN, Aadhaar
- Original ITR copy (if any)
- Form 16, Form 26AS
- Bank statements
⚠️ Final Notes
- Cannot revise or withdraw
- No new deductions or refunds allowed
- Must pay all dues before filing
About the Author:
CA Soham Shivankar is an associate partner at Sanyog V Lohiya & Associates, with a focus on tax compliance and return filing strategies.