Income Tax Portal Update 2025: ITR-3 and ITR-4 Updated Returns Now Live

The Income Tax Department has recently released an important Income Tax Portal update and has live Excel Utility for filing Updated Returns for Assessment Year 2012-22 and 2022-23 for ITR-3 and ITR-4. However, ITR-5, ITR-6 and ITR-7 Forms are still pending. whereas ITR-1 and ITR-2 filing utilities were already live on July 30.

Now all forms are available for an individual if he/she wants to file ITR-U in line with the Finance Act 2025.

ITR-U (also known as Updated Return) was introduced under section 139 (8A) of the Income Tax Act, 1962 to permit taxpayers to correct errors in their original ITRs or file a return if they missed the due date.

Previously, Taxpayers could file ITR-U for rectifying mistakes of the last 2 years but now the Finance Act 2025 has extended this deadline for the last 4 years.

Who Needs to File ITR-3?

ITR-3 is applicable for individuals and HUFs (Hindu Undivided Families) with income from business or profession and who are not eligible to file ITR-1, ITR-2, Or ITR-4.

Who Needs to File ITR-4?

ITR-4 (also known as Sugam) is designed for resident individuals, HUFs, and partnership firms other than LLPs whose total income is upto Rs 50 Lakh and who select the presumptive scheme under Sections 44AD, 44ADA, or 44AE, with a simple income structure.

ITR-U filing comes with payment of Additional Tax apart from Income Tax and Interest. The Additional Fees are 25% of Tax and Interest for First year, 50% for the second year, 60% for Third year and 70% for the fourth year.