ITR-U (Previous Year / Missed ITR)

ITR-U can be filed for up to 2 assessment years preceding the current assessment year. For example, in AY 2026-27, you can file ITR-U for AY 2025-26 and AY 2024-25.

Additional tax of 25% of the tax due is payable for returns filed after 12 months but within 24 months. If filed after 24 months (within 36 months), additional tax of 50% applies.

No, ITR-U cannot be filed to reduce losses or increase refund. It is primarily meant for disclosing additional income or correcting errors that result in higher tax liability.

Revised return can be filed before the end of the assessment year or before completion of assessment. ITR-U can be filed after the assessment year but within 24 months for additional income disclosure.

ITR-U cannot be filed if a notice under section 142(1), 143(2), 148, 153A, or 153D has been issued. It also cannot be filed if assessment/reassessment has already been completed.

ITR-U (Updated Return) allows taxpayers to file belated returns or revise already filed returns for up to 2 previous assessment years. It should be filed when you missed the original due date, made errors, or need to report additional income from past years.

Our professional fee for ITR-U filing is ₹1,497, plus government fees. This covers preparation of the updated return, computation of additional tax, and complete CA-assisted filing.

You need the original ITR (if already filed), Form 16, bank statements, investment proofs, details of additional income to be reported, and PAN/Aadhaar. If filing for a missed year, documents from that year are required.

Yes, ITR-U can be self-filed on the IT portal. However, computing the additional tax (25% or 50%), selecting the correct original return, and ensuring proper disclosure are complex — CA assistance is recommended.

Voluntary filing of ITR-U helps avoid prosecution, reduces penalty exposure, allows disclosure of additional income with lower additional tax (25%/50% vs higher penalties), and brings you back into compliance.