New ITR-U notified by CBDT: Now you can file ITR of Last 4 years

The Central Board of Direct Taxes (CBDT) has notified the new ITR-U. The time limit to file ITR was extended to 48 months via the Finance Act, 2025.

Now you can file the ITR of Last 4 years:

This means now, taxpayers can file updated returns for the AYs 2021-22, 2022-23, 2023-24 and 2024-25.

Additional Tax Payable:

• Filing in First Year: Additional income tax of 25% (Tax + Interest)
• Filing in 2nd Year: Additional income tax of 50% (Tax + Interest)
• Filing in 3rd year: Additional income tax of 60% (Tax + Interest)
• Filing in 4th year: Additional income tax of 70% (Tax + Interest)

ITR-U Filing Timelines:

Major changes in the ITR-U Form:

• Section 139(8A) amended: No ITR U can be filed if notice u/s 148A (show-cause notice) is issued after 36 months from the end of the relevant A.Y. However, if the 148A(3) order is passed, saying that it is not a valid case for notice u/s 148, then ITR U can be filed within 48 months from the end of the relevant A.Y.
• Section 140B was amended to prescribe additional income tax payable for the extended timelines.
• Rule 12AC amended accordingly to reflect these changes

Some Features of ITR-U:

• Refund or carry forward of Loss not allowed
• Income cannot be reduced in ITR-U from a previously filed ITR
• ITR-U cannot be filed if the case is already been opened.