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%...