Minimum tax payable to file Updated return

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Quick Summary

You can file an Updated Return (ITR-U) even if your income is minimal and your tax liability is zero. This applies even for bank loan purposes, provided you accurately declare your earned income. While there's no minimum tax to file, be aware that additional taxes, late fees, and penalties under Section 140B may apply depending on the delay in filing.

Varini S G

Varini S G (Querist)

30 September 2026 If an assessee whose income is in hundreds and wants to file ITR U for bank loan purpose, how much is the minimum tax that the assessee must pay to file ITR U and The tax amount without which the ITR cannot be filed?

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

01 October 2026 There is no minimum tax amount required to file an Updated Return (ITR-U). If the total income is in hundreds, the tax liability, late fee, and additional tax under Section 140B will all be ₹0, and the return can still be submitted on the portal provided it does not claim a refund or declare a loss. However, for bank loan purposes, the actual earned income must be accurately declared to meet the lender's financial eligibility criteria.

Manish

Manish (Expert)

01 October 2026 It depends on the time gap after the end of the relevant AY. Additional tax ranges from 25% to 70%.

Share taxable income as per the original ITR.

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