vinujaglan.com · Founder's official site 
Step by step
- 1
Find the missed income
Compare AIS for that year with the return filed.
- 2
Compute tax and interest
Tax on total income, interest under 234A/234B/234C, minus taxes already paid.
- 3
Add additional tax
25%–70% of tax plus interest, depending on the timing.
- 4
Pay first
Pay through e-Pay Tax as self-assessment tax for that AY.
- 5
File ITR-U and e-verify
Choose the right ITR form, fill Part ITR-U with the reason, attach the challan and e-verify.
How much extra you pay
| Filed within … from end of AY | Additional tax |
|---|---|
| 12 months | 25% |
| 12–24 months | 50% |
| 24–36 months | 60% |
| 36–48 months | 70% |
Which years are open on 11 November 2026
| Assessment year | Window closes | Additional tax now |
|---|---|---|
| AY 2025-26 (FY 2024-25) | 31 March 2030 | 25% (till 31 March 2027) |
| AY 2024-25 (FY 2023-24) | 31 March 2029 | 50% (till 31 March 2027) |
| AY 2023-24 (FY 2022-23) | 31 March 2028 | 60% (till 31 March 2027) |
| AY 2022-23 (FY 2021-22) | 31 March 2027 | 70% |
When ITR-U is not allowed
- It reduces tax, increases a refund or creates or increases a loss
- A search or survey has been initiated, or assessment for that year is pending or completed
- The year is under prosecution or the income has already been found by the department
- Note: since Budget 2026 an updated return can be filed after a reassessment notice, with an extra 10% of tax
Why it is worth using
An updated return avoids penalty of 50%–200% and prosecution risk on that income. If AIS shows income you missed — interest, rent, share sales — fixing it yourself costs far less than waiting for a notice.
Worked example
Example: For AY 2024-25 Neha forgot FD interest of ₹80,000 and is in the 30% slab. Tax with cess = ₹24,960; interest about ₹8,000; total ₹32,960. Filing now (12–24 months after the AY ended) adds 50% = ₹16,480. She pays about ₹49,440 — and avoids a penalty that could be ₹12,480 to ₹49,920 more plus the stress of a notice.
Common mistakes
- Filing ITR-U to claim a missed deduction (not allowed — it would reduce tax)
- Filing without paying the tax first
- Ignoring the additional-tax step-ups every 12 months
Frequently asked questions
Yes, as long as the conditions are met and it results in tax payable.
No. Only one updated return is allowed per assessment year.
Last reviewed on 11 November 2026 by Vinay Jaglan, VJ & Associates. Law and portal screens change — verify before acting, or ask the office.
