Updated return for AY 22-23

Proposed Changes (Effective from April 1, 2025):

• Time limit extended from 24 months to 48 months.
• Revised Additional Tax Rates Payable:
• • Within 12 months – 25% of total tax & interest.
  • After 12 months but within 24 months – 50% of total tax & interest.
  • After 24 months but within 36 months – 60% of total tax & interest.
  • After 36 months but within 48 months – 70% of total tax & interest.

So, if filed on or before 31.03.2025, penalty would be just 50%...

For AY 2022-23, the due date to file an updated return (ITR-U) is 31 March 2027, under the Finance Act, 2025 amendment extending the time limit from 24 months to 48 months from the end of the relevant assessment year. The earlier date, 31 March 2025, applied under the former 24-month limit. This assumes the return is otherwise eligible to be updated under section 139(8A).

For an ITR-U workflow, first confirm eligibility and compute the applicable additional tax before preparing the filing. Manual tracking of these conditions and calculations is difficult; automation can reduce repetitive work while leaving review and professional judgment in your control. At Jir AI we provide 2,000+ AI agents and 650+ integrations to streamline your practice’s day-to-day workload. Message us on WhatsApp to explore the workflow: https://wa.me/message/3HVOZ7HIY4ESC1

Deadline for ITR-U for AY 2022-23:

• The Finance Act 2025 extended the ITR-U window from 24 to 48 months from the end of the relevant AY. For AY 2022-23, that's 31 March 2027. Additional tax: 60% (24–36 months) and 70% (36–48 months) of the aggregate tax and interest.