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Home > Income Tax > Help Center > Updated Return (ITR-U) Penalty Calculator Last Updated: Feb 06th 2025

Updated Return (ITR-U) Penalty Calculator

One hurdle to efiling an Updated ITR (ITR-U) is penalty payment. The Updated Return Penalty Calculator from EZTax helps calculate the total penalty upon ITR Filing.

  Updated per latest Union Budget 2025
Simple Interest Calculator


   Updated Return (ITR-U) Penalty Calculator
Assessment Year
Date of Filing
Tax Amount
(including interest & excluding late fee)

Enter the Income Tax Amount.

Updated Return Due Date for AY {{aYear}}

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End of relevant assessment Year (Due Date) for AY {{aYear}}
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NOTE: Updated ITR for AY 2021-22 (FY 2020-21) is not possible to e-file after Mar 31st 2024.

Months of Delay
{{months}}
Rate of Penalty
{{rateOfPenalty}}
Total Penalty
{{penalty}}

1. Note on months of delay calculation : As per Income Tax Act, Updated return can be filed upto 24 months from the end of relevant assessment year. Even though the belated due date expired on 31st Dec 2023 for AY 2023-24, the taxpayers have 24 months time from 31st March 2024. As per this interpretation, number of months of delay is calculated from March 2024
2. Timeframe : Generally post March every year, one can file 3 years updated returns.
3. Minimum Tax : Beyond the penalty on tax payable, one need to pay "some amount of self-assessment tax" after Jan 15th 2025 for AY 2024-25 Updated ITR u/s 139(8)(a)
4. Additional Penalty / Interest : In addition to above one may need to pay penalty u/s 234 A*/B/C/F*
Refer more on Interest & Penalty u/s 234 A/B/C/F
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Frequently asked Questions

1. What is Updated Return ?

An updated return allows the taxpayer to file their income tax returns within extended time limit. An updated return can be filed by any one who have not filed the return or filed original, belated or revised returns

2. Is filing an Updated return mandatory?

Filing of Updated return is optional. It is at the discretion of taxpayer to file the updated return

3. Can I claim any refunds by filing updated returns?

No , you cannot claim any refunds or losses by filing updated returns

4. What is the time limit to file updated returns?

The time limit for filing updated returns is 2 years from the end of such relevant assessment year

  1. For AY 2020-21 (FY 2019-20): The due date for filing updated return is 31st Mar 2023.
  2. For AY 2021-22 (FY 2020-21): The due date for filing updated return is 31st Mar 2024.
  3. For AY 2022-23 (FY 2021-22): The due date for filing updated return is 31st Mar 2025.
  4. For AY 2023-24 (FY 2022-23): The due date for filing updated return is 31st Mar 2026.
  5. For AY 2024-25 (FY 2023-24): The due date for filing updated return is 31st Mar 2027.

5. Are there any changes to the time limit for filing Updated Income tax returns in Budget 2025?

Yes, Budget 2025 proposed the changes in time limit for filing updating income tax returns in Budget 2025

The time limit for filing Updated Income tax returns will be increased to 4 years from the end of the relevant assessment year. Currently it is 2 years from the end of the relevant assessment year.

For Example : The Due date for filing updated income tax return for AY 2024-25 (FY 2023-24) is 31st March 2029. Earlier it was 31st March 2027

6. Are there any penalties for filing updated returns?

Yes, there are penalties for filing updated returns

NEW       NOTE

As per Budget 2025, the time limit for filing updated returns is extended to 4 years (48 months) from the end of the relevant financial year. The penalties or Additional tax payable for updated returns are as follows

  1. Filed within 12 months from the end of relevant assessment year: Penalty is 25% of aggregate of tax and interest payable on filing of updated return
  2. Filed after 12 months and before 24 months from the end of relevant assessment year: Penalty is 50% of aggregate of tax and interest payable on filing on updated return
  3. Filed after 24 months and before 36 months from the end of relevant assessment year: Penalty is 60% of aggregate of tax and interest payable on filing on updated return
  4. Filed after 36 months and before 48 months from the end of relevant assessment year: Penalty is 70% of aggregate of tax and interest payable on filing on updated return


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Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.