ITR UPDATED return can be filed for the last two years to claim refund
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Quick Summary
You can file an updated Income Tax Return (ITR) to claim a refund for the past two years. However, this is only possible if there is no additional tax outflow. If filing the updated return would result in a reduced tax liability, adjustment of losses, or an increased refund, you will not be able to use this option.
The Act does not allow the taxpayer to file the updated return if there is no additional tax outgo. Hence, if the total tax liability is to be reduced, losses to be adjusted against the income, there is a refund or increase in the refund amount, the taxpayers cannot file.
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