If you missed something while filing your Income Tax Return (ITR) for Assessment Year (AY) 2025-26, don’t worry, you still have an opportunity to correct
or update it. The updated return allows taxpayers to file their returns within 48 months after the financial year ends. For AY 2025-26, this means you can file an updated return up to 31 March 2030. This extended window is designed to encourage voluntary compliance by giving taxpayers more time to amend their filings. Anyone can file an updated return except in specific situations. It doesn’t matter if you already submitted an original, belated, or revised return for that year; you can still use the updated return option once. Important Details To Include When Filing Filing an updated return requires providing certain key information: Basic identification details like PAN, name, and Aadhaar Information about the previously filed return, such as the ITR form, acknowledgement number, filing date, and relevant section Confirmation of your eligibility to file an updated return The appropriate ITR form chosen for this updated filing A clear reason explaining why you are filing the updated return These details help ensure your updated submission is processed accurately. When Can You Not File An Updated Return? There are certain restrictions to keep in mind. An updated return cannot be filed if your total income shows a loss. However, if there is a loss under a particular head but your overall income is positive, filing is allowed. Also, an updated return cannot result in a lower tax liability than what was declared previously. It’s important to note that an updated return can only be filed once per assessment year and cannot be revised afterwards. Additionally, if a search under section 132 has been initiated for any assessment year, updated returns cannot be filed for that year or any prior years.
