The Income Tax Department can send you a notice due to incorrect or incomplete information in ITR, but if you file ITR-U on time, you can avoid that notice.
File ITR-U: Many times people make mistakes while filing income tax returns or if any 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, then 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 – under-reported income or filled wrong details).
- Have filed return in wrong category (eg – ITR-2 instead of ITR-1).
- Have forgotten to claim deduction or exemption.
- Have to disclose additional tax liability.
- Have filled wrong figures of TDS or Advance Tax.
Who cannot file ITR-U?
- Those who have already filed ITR-U.
- If the tax department has initiated a survey, inquiry or investigation 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 time limit for filing ITR-U was earlier two years, but in Budget 2025, the time limit for filing updated income tax return (ITR-U) for taxpayers 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.
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