Income Tax
ITR-U Updated Return Filing
Quick answer: ITR-U Updated Return filing under Section 139(8A) for AY 2026-27 — voluntary disclosure within 24 months.
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Why choose FinTax24
- 700+ ITR-U filings for AY 2024-25 and AY 2025-26
Audience
Who needs ITR-U Updated Return Filing?
- Taxpayers who omitted capital gains from sale of equity, mutual funds, or property in original ITR.
- Salaried employees who did not disclose bank interest, FD interest, or dividend exceeding ₹5,000 in original ITR.
- Business owners and professionals with business income under-reported in original ITR-3 / ITR-4.
- Capital gains taxpayers who claimed excess Section 54 / 54F exemption or wrong indexation in original return.
- Taxpayers who missed disclosing foreign income from rental property, dividend, or business outside India.
- Individuals with rental income from multiple house properties under-reported in original ITR-2.
- Taxpayers under Section 148A / 148 notice — ITR-U may close the reassessment proceedings if accepted.
How it works
- 1
ITR-U Eligibility Check
We confirm Section 139(8A) window (24 months from end of AY) and the correct AY for update.
- 2
Omitted Income Compilation
Missed capital gains, interest, dividend, rental income, and excess deduction corrected.
- 3
Additional Tax Computation
25% / 50% tax on updated income computed — paid via challan 280 before ITR-U filing.
- 4
ITR-U JSON Drafting
ITR-U utility prepared with original ITR details and updated computation — reviewed with taxpayer.
- 5
E-Filing & Verification
ITR-U uploaded on incometax.gov.in with Aadhaar OTP / DSC verification.
- 6
Acknowledgment & Closure
ITR-U-V acknowledgment issued and additional tax paid under challan 280 acknowledged.
Timeline
Why file this
Benefits of itr-u updated return filing
- ITR-U (Updated Return) filing under Section 139(8A) for AY 2026-27 and prior 6 AYs (up to 24 months from end of AY).
- Voluntary disclosure of previously omitted income — capital gains, interest, dividend, or rental income missed.
- Correct excess deduction claimed in original ITR — Section 80C over-claim, depreciation excess, etc.
- Additional 25% tax on updated income where total income does not exceed ₹50 lakh (Section 139(8A)(2)).
- Additional 50% tax on updated income where total income exceeds ₹50 lakh (Section 139(8A)(2)).
- Reduce Section 271(1)(c) concealment penalty exposure by voluntary disclosure before AO detects omission.
- Avoid Section 276AB prosecution for willful attempt to evade tax by updating return within statutory time.
- Settle disputes without notice by paying 25% / 50% tax and interest — close pending scrutiny proceedings.
Documents required
7 documents needed for itr-u updated return filing.
- PAN and Aadhaar of the taxpayer — Aadhaar-PAN linking mandatory for ITR-U e-filing OTP.
- Original ITR filed for the AY being updated — ITR-V acknowledgment and JSON if available.
- Form 26AS and AIS (Annual Information Statement) for the AY being updated.
- Documents for newly reported income — capital gains statement, bank interest certificate, rental agreement.
- Computation of updated total income — fresh computation including omitted income and corrected deductions.
- TDS / TCS challan payments for the original AY showing advance tax and self-assessment tax history.
- Tax computation showing additional 25% or 50% tax on the updated income — paid before ITR-U filing.
DIY vs FinTax24
Why file itr-u updated return filing with FinTax24 instead of doing it yourself.
| Aspect | DIY / Portal | Local Tax Consultant | FinTax24 |
|---|---|---|---|
| Filing time | 7–14 days (typical) | Varies by availability and workload | 3-5 business days |
| Expert review | None | Depends on the consultant | Expert verified on every filing |
| Document check | You self-verify; rejected on portal | Manual review may vary | Pre-verified by our team before submission |
| Support | Email / chatbot | Appointment-based or office hours | WhatsApp + phone, Mon–Sat 10 AM–7 PM IST |
| Pricing | Government fees only | Consultant fee + government fees | Transparent: From ₹2,499 + govt fees |
Frequently asked questions
What is ITR-U under Section 139(8A)?
ITR-U (Updated Return) under Section 139(8A) introduced by Finance Act 2022 with effect from AY 2022-23 allows any taxpayer to voluntarily update their ITR for any AY up to 24 months from end of that AY. Additional 25% tax (income ≤ ₹50L) or 50% tax (income > ₹50L) applies on the updated income.
Who can file ITR-U for AY 2026-27?
Any taxpayer — individual, HUF, firm, LLP, company, trust — can file ITR-U under Section 139(8A) for AY 2026-27 (FY 2025-26) and prior 6 AYs (AY 2025-26 to AY 2020-21) provided the 24-month window from end of AY is open and the original return was filed on or before the due date.
What is the additional tax rate in ITR-U?
Section 139(8A) prescribes additional tax on updated income: 25% if total updated income does not exceed ₹50 lakh, and 50% if total updated income exceeds ₹50 lakh. This is in addition to normal tax, surcharge, cess, and interest under Section 234A / 234B / 234C on the updated income.
Can ITR-U be revised?
No. Under Section 139(8A), an ITR-U cannot be further revised. However, if a taxpayer discovers additional omission after filing ITR-U, they can file another ITR-U within the 24-month window from end of AY — provided no notice under Section 148A / 148 has been issued and no search under Section 132 has been conducted.
Can I file ITR-U if my original return was filed late?
No. Section 139(8A) requires that the original return was filed on or before the due date under Section 139(1), 139(4), or revised under 139(5). If the original return was not filed or was filed as a belated Section 139(4) return and not revised, ITR-U cannot be filed.
How does ITR-U differ from Section 148 reassessment?
Section 148 reassessment is initiated by the IT department — taxpayer has limited control. ITR-U is voluntary and initiated by the taxpayer within 24 months — more control over timing and additional tax exposure (25% / 50% vs 100%-300% penalty under Section 271(1)(c) in 148 proceedings).
What is the fee for ITR-U filing at FinTax24?
ITR-U filing starts from ₹2,499 at FinTax24 — covers eligibility check, omitted income compilation, additional 25% / 50% tax computation, challan 280 payment support, JSON drafting, and e-filing. Multi-AY ITR-U starts from ₹4,499. Capital gains or foreign income updates priced from ₹3,999.
Does ITR-U waive Section 271(1)(c) concealment penalty?
Yes. Section 139(8A)(7) provides immunity from Section 270A / 271(1)(c) penalty and prosecution under Section 276C / 276CC for the income disclosed in ITR-U. The additional 25% / 50% tax replaces the penalty exposure. This makes ITR-U a cost-effective way to disclose omissions before AO detection.
Sources & authority: For regulations on itr-u updated return filing, refer to incometax.gov.in , eportal.incometax.gov.in .
Last reviewed by: FinTax24 Compliance Desk · Reviewed on:
Related Income Tax
- Income Tax Return Filing ITR filing for any taxpayer — ITR-1 to ITR-7 — for AY 2026-27 with Form 16, 26AS, AIS, deduction planning. View details →
- ITR Filing ITR filing for any taxpayer — ITR-1 to ITR-7 — for AY 2026-27 (FY 2025-26) with 26AS / AIS reconciliation. View details →
- ITR-1 SAHAJ Filing ITR-1 SAHAJ e-filing for salaried individuals for AY 2026-27 — single Form 16, one house property, income up to ₹50 lakh. View details →
- ITR-2 Filing ITR-2 filing for capital gains, multiple house property, and foreign income for AY 2026-27 — no business income. View details →
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