Income Tax Return Filing for Last 3 Year

 

Yes, you can file your Income Tax Returns (ITR) for the past three financial years in India. Since the deadlines for the original and belated returns for those years have likely passed, you will need to use the Updated Return (ITR-U) mechanism under Section 139(8A) of the Income Tax Act.

The ITR-U provision allows you to file an updated return for up to 48 months (4 years) from the end of the relevant Assessment Year (AY).

 

Applicable Assessment Years

To file for the last three financial years (FY), you'll be addressing the corresponding Assessment Years (AY). The table below illustrates the relevant periods and the current last possible date to file using ITR-U (as of December 2025):

Financial Year (FY)	Assessment Year (AY)	Normal Due Date (Approx. July 31)	Last Date for ITR-U Filing (48 months from AY end)
2022-23	2023-24	July 31, 2023	March 31, 2028
2023-24	2024-25	July 31, 2024	March 31, 2029
2024-25	2025-26	Sept 16, 2025*	March 31, 2030

Note: The original due date for FY 2024-25 (AY 2025-26) was extended to September 16, 2025 for non-audit cases, and the belated/revised deadline is December 31, 2025. After Dec 31, 2025, you would use ITR-U for AY 2025-26 as well.

 

Key Conditions and Penalties (ITR-U)

Filing an Updated Return (ITR-U) comes with certain conditions and an additional tax penalty.

1. Additional Tax Liability

You must pay an additional tax on the total tax and interest due. The percentage varies based on how late you file relative to the end of the Assessment Year:

Filing Timeline from end of relevant Assessment Year	Additional Tax Rate on Tax and Interest Due
Within 12 months (1 year)	25%
After 12 months but within 24 months (2 years)	50%
After 24 months but within 36 months (3 years)	60%
After 36 months but within 48 months (4 years)	70%

2. Purpose Restriction

The ITR-U can only be filed if it results in an increase in your total tax liability or a decrease in the loss previously reported.

• You cannot file ITR-U to claim a refund (even if you had excess TDS) or to decrease your existing tax liability/increase your loss.

 

Step-by-Step Filing Process

You must file a separate Updated Return (ITR-U) for each of the three Assessment Years you missed.

1. Gather Documents

Collect all relevant documents for each financial year:

• Form 16/16A (TDS certificates)
• Form 26AS (Tax credit statement)
• Annual Information Statement (AIS)
• Bank Statements and investment proofs.
• Other relevant documents for income, deductions, and tax paid.

2. Choose the Correct ITR Form

Determine the appropriate ITR form (ITR-1, ITR-2, ITR-3, etc.) for each specific year based on your income sources for that year.

3. Calculate Tax and Penalty

• Calculate the original tax payable for that financial year.
• Calculate the interest under Section 234A, 234B, and 234C.
• Calculate the additional tax (25%, 50%, 60%, or 70%) on the sum of the tax and interest due.

4. File the Updated Return (ITR-U)

• Log in to the official Income Tax e-Filing Portal.
• Go to e-File > Income Tax Returns > File Income Tax Return.
• Select the relevant Assessment Year.
• Under the Filing Type, choose Updated Return (Section 139(8A)).
• Fill in Form ITR-U and the relevant ITR form with your income, deductions, and the computed tax and penalty details.
• Pay the required tax, interest, and additional tax before submitting the ITR-U.
• E-Verify the return to complete the process.

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