Filing Income Tax Returns (ITR) for the last three years

 

For the purpose of explaining the last three financial years (FY) and their corresponding Assessment Years (AY), let's look at the dates as of today, November 29, 2025:

Financial Year (FY)

Assessment Year (AY)

Original Due Date (Non-Audit Cases)

Current Status (as of Nov 29, 2025)

Filing Method

FY 2024-2025

AY 2025-2026

Sep 15, 2025 (Extended)

Belated Return Window

Belated Return (Sec 139(4))

FY 2023-2024

AY 2024-2025

July 31, 2024

Updated Return Window

Updated Return (ITR-U, Sec 139(8A))

FY 2022-2023

AY 2023-2024

July 31, 2023

Updated Return Window

Updated Return (ITR-U, Sec 139(8A))

 

1. Current Year (FY 2024-25 / AY 2025-26)

Since the original deadline (September 15, 2025) has passed, you must file a Belated Return under Section 139(4).

  • Deadline: December 31, 2025.
  • Consequences:
    • Late Fee (Section 234F): ₹5,000 (or ₹1,000 if your total income is ≤ ₹5 Lakhs).
    • Interest (Section 234A): 1% per month or part of a month on the unpaid tax amount from the original due date until the date of filing.
    • Loss of Benefits: You cannot carry forward certain losses (except house property loss).

2. Past Two Years (FY 2023-24 & FY 2022-23)

For these past years, the window for filing a Belated Return has closed. You can now only file an Updated Return using Form ITR-U under Section 139(8A), provided you meet the eligibility criteria.

  • Updated Return Deadline:
    • AY 2024-2025 (FY 2023-24): March 31, 2026.
    • AY 2023-2024 (FY 2022-23): March 31, 2025.
  • Purpose: ITR-U is primarily for correcting errors/omissions or for filing when you missed the original/belated deadlines.
  • Consequences: You must pay the tax due along with interest and an additional tax penalty on the tax and interest due:
    • If filed within 12 months from the end of the relevant Assessment Year: 25% of the tax and interest due.
    • If filed after 12 months but before 24 months: 50% of the tax and interest due.

Important: An Updated Return (ITR-U) cannot be filed if the return results in a refund or an increase in the refund already claimed, or if it results in a decrease in the total tax liability.

General Process for Filing Belated/Updated Returns

  1. Gather Documents: Collect all necessary documents for each year, including PAN, Aadhaar, Form 16/16A, Form 26AS, AIS (Annual Information Statement), bank statements, and investment proofs.
  2. Determine ITR Form: Select the correct ITR form (ITR-1, ITR-2, etc.) applicable to your income sources for that specific financial year.
  3. Calculate Tax & Dues: Calculate the tax liability, including any applicable late fees (for Belated), interest, and additional tax (for ITR-U). Pay this amount before filing.
  4. e-Filing Portal: Log in to the official Income Tax e-Filing portal:
    • For Belated Return (AY 2025-26): Choose the relevant Assessment Year (AY) and select the filing type as Section 139(4) (Belated Return).
    • For Updated Return (AY 2024-25 & AY 2023-24): Choose the relevant Assessment Year (AY) and select the filing type as Section 139(8A) (Updated Return/ITR-U).
  5. Submit and Verify: File the return and complete the e-verification (e.g., using Aadhaar OTP, Net Banking, or EVC).

Since you are filing for multiple years with penalties and specific sections, I strongly recommend consulting a Chartered Accountant (CA) or a tax professional to ensure accuracy and compliance.

 

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Location: India

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