Can I Refile My ITR for a Previous Year?
Guide on Revising and Updating Income Tax Returns for FY 2024–25
Mistakes or missed filings happen, and one of the most common queries taxpayers have is:
"Can I refile my ITR for an earlier year?"
The good news is—yes, you can—but it depends on how old the return is and what exactly you intend to correct.
Here’s a clear breakdown of your options under the Income Tax laws applicable for FY 2024–25 and AY 2025–26.
✅ Two Ways to Refile or Update Your ITR
You have two main options, depending on your situation:
🔹 1. Revising Your Filed ITR (Section 139(5))
If you filed an ITR but made a mistake (like missed reporting some income or claiming wrong deductions), you can file a Revised Return.
Important Points:
- You can revise the ITR before 31st December of the relevant Assessment Year.
- For FY 2023–24 (AY 2024–25), you could revise up to 31st December 2024.
- For FY 2024–25 (AY 2025–26), you can revise till 31st December 2025.
✅ You can revise your ITR multiple times as long as it's within the allowed period.
🔹 2. Filing an Updated Return (ITR-U under Section 139(8A))
If the due date to revise has passed, you can still update your return using ITR-U.
Key Highlights:
- You can file an Updated Return within 2 years from the end of the relevant Assessment Year.
- Example:
- For FY 2022–23 (AY 2023–24), you can update the return up to 31st March 2026.
- Updated returns can be filed even if you didn’t originally file any return!
✅ However, you must pay additional taxes:
- 25% of tax + interest if updated within 1 year
- 50% of tax + interest if updated between 1–2 years
📌 Situations Where You Can Refile ITR for the Previous Year
You can refile if:
- You missed reporting some income
- You forgot to claim certain deductions
- You chose the wrong ITR form
- You wrongly declared your residential status
- You found an error after the original filing
❌ When You Cannot Use the Updated Return (ITR-U)
You cannot file an Updated Return if:
- It results in lowering your tax liability.
- It claims an increased refund compared to the original filing.
- It is filed after the assessment is completed by the tax department.
Updated Returns are allowed only if they result in additional tax being paid.
🧠 Quick Example
Suppose you forgot to include ₹2 lakh of freelance income in your ITR for FY 2022–23:
- If it's before 31st December 2024, → File a Revised Return (simple correction).
- If it's after 31st December 2024, → File an Updated Return (ITR-U) with extra tax + penalty.
✅ Step-by-Step to Refile or Update Your ITR
- Log in to the Income Tax e-Filing Portal: https://www.incometax.gov.in/iec/foportal/
- Select 'File Income Tax Return' → Choose 'Revised Return' or 'Updated Return'.
- Select the correct Assessment Year.
- Fill in accurate details.
- Submit and e-verify your return.
Final Thoughts
"You CAN refile or update your ITR for a previous year—but the sooner you act, the lesser the penalties and complications."
Timely corrections help you stay compliant and avoid unnecessary scrutiny from the tax department.
Click here to claim the service: https://callmyca.com/revised-itr
