Updated ITR Filing for AY 2021‑22 & 2022‑23 Now Possible:ITR Utilities Released

The Income Tax Department has released the Excel Utilities, which can be used by taxpayers to file revised income tax returns (ITRs). These returns are being released for those who want to file ITR-1 or ITR-2 forms for the Assessment Years (AYs) 2021-22 and 2022-23 (financial years 2020-21 and 2021-22). Excel Utilities are the tools that are being prepared as per the latest rules and amendments made in the Finance Act of 2025. Therefore, if you made a mistake or missed something in your original tax return for either of those years and now want to correct it or add the missing information, you can use these updated Excel tools to file your corrected or updated return.

The ITR-1 form is used by salaried individuals in India to report their simple income to the Income Tax Department. It is applicable to individuals having income from salary or pension, income from one house property (excluding cases with brought forward losses), and income from other sources such as interest or dividends, along with agricultural income.

The ITR-2 form is used by individuals and Hindu Undivided Families (HUFs) who do not have income from business or profession but may have income from salary or pension, income from house property, capital gains (such as selling shares, property, etc.), foreign assets/income, and other sources (like interest, dividends, etc.).

Sometimes, after filing a tax return, you realize that you missed reporting some income, filled in some wrong information, or claimed the wrong deduction. In these cases, the government allows you to file an “Updated Return” to correct those mistakes. But the extension comes with additional interest and Tax.

• You are required to pay 25% extra tax amount, if you file ITR-U within 12 months after the end of the relevant AY
• You’ve to pay 50% extra tax if you file it between 12 and 24 months
• You’ve to pay 60% extra tax if you file it between 24 and 36 months
• If you file ITR-U between 36 and 48 months, you’re required to pay 70% extra tax

If you made a mistake or missed income in your earlier returns for those years, now is your chance to fix it legally. By using the Excel Utility, you can fill out the form offline, check it for errors, and then upload it to the tax portal to submit your updated return.