Judgement

ITAT has held that Section 234B Interest Cannot Be Charged Beyond Self-Assessment Tax paid at time of filing ITR-U

ITR-U important Update: ITAT Holds Section 234B Interest Cannot Be Charged Beyond Self-Assessment Tax Payment Date

Missed the July 31 ITR filing deadline? Know the rules for belated return, late fees, penalties, revised return and ITR-U filing options.

The Income Tax Department has released ITR-U Excel Utilities for AY 2022-23, enabling taxpayers to file updated returns under the Finance Act, 2026.

The amendment corrects a formatting Issue in part A (General Information) of Form ITR-U (Updated Income Tax Return).

The Central Board of Direct Taxes has notified Updated Income Tax Return to update income/reduce loss within 48 months in line with Finance Act 2026.

File your ITR-U before March 31 to correct past errors, disclose missed income, and avoid higher additional tax penalties.