Missed something on your taxes? You can now update returns
Good news if you missed something on your taxes: the CBDT is letting people file updated returns (ITR-U) for Assessment Years 2021-22 and 2022-23.
This gives you a chance to correct errors or add forgotten income, but you'll need to pay extra tax.
Thanks to the Finance Act, 2025, you now have up to four years from the end of each assessment year to get this done.
Which ITR forms to use?
If you have business or professional income, use ITR-3; if your business runs on presumptive income and total earnings are under ₹50 lakh, go with ITR-4.
Even if you didn't file an original return before, you can still update now—just keep your old acknowledgment number handy if you did.
Things you can't do with ITR-U
You can't use ITR-U for nil/loss returns or to lower your taxes or boost refunds. Returns under investigation are also off-limits.
The final deadline for updating AY 2025-26 is March 31, 2030.
Filing late means extra charges—penalties apply depending on how quickly you file.