ITR-U was introduced to optimise tax compliance by taxpayers without provoking legal action. Two years will be calculated from the end of the year in which the original return was filed. Section 139(8A) under the Income Tax Act allows you a chance to update your ITR within two years. Have you ever forgotten to report an income or made a mistake in your ITR? The government introduced the concept of updated returns in the Union Budget 2022. ITR-U is the Form that allows you to update your income tax return by rectifying errors or omissions for up to two years from the end of the relevant assessment year.
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