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Due to wrong information or incomplete information in ITR, the Income Tax Department can send you a notice, but if you file ITR-U on time, you can avoid that notice.
Many times people make mistakes while filing income tax returns or some information is missed, then you can correct it through ITR-U. ITR-U means Updated income tax return. Due to wrong information or incomplete information, the Income Tax Department can send you a notice, but if you file ITR-U on time, you can avoid that notice.
Who can file ITR-U
- People who have not been able to file ITR on time.
- Have reported wrong income (eg – showing less income or filling wrong details).
- Have filed return in wrong category (eg – ITR-2 instead of ITR-1).
- Have forgotten to claim deduction or exemption.
- Additional tax liability has to be disclosed.
- Incorrect data of TDS or advance tax has been filled.
Who cannot file ITR-U?
- Those who have already filed ITR-U.
- If the tax department has started a survey, investigation or inquiry against you.
- If you have given any fraud or wrong information in ITR.
- If your ITR has already been selected for assessment or reassessment.
- If you have any refund to claim.
- If the deadline for filing ITR has passed.
When and how many times can ITR-U be filled?
The deadline for filing ITR-U was earlier two years, but in Budget 2025, the deadline for taxpayers to file updated income tax return (ITR-U) has been increased from two years to 4 years. This rule of increased limit will come into effect from the new financial year i.e. April 2025. Remember, apart from TR, it can be filed only once. You can file it by visiting eportal.incometax.gov.in.
