Union Budget 2025: Time Limit for Updated Income Tax Return Increased From 2 to 4 Years
Finance Minister Nirmala Sitharaman announced an extension of the time limit for filing an updated income tax return under Section 139(8A) from 2 years to 4 years.
Finance Minister Nirmala Sitharaman announced an extension of the time limit for filing an updated income tax return under Section 139(8A) from 2 years to 4 years in her Union Budget 2025 speech. Previously, taxpayers could file an updated return within 24 months from the end of the relevant assessment year. This move aims to provide more flexibility and compliance ease for taxpayers, allowing them additional time to rectify omissions or errors in their tax filings. Union Budget 2025: 10,000 Fellowships Under PM Research Fellowship for Tech Research at IITs and IISc, Announces Finance Minister Nirmala Sitharaman.
Union Budget2025
Time limit for updated Income Tax return increased from 2 to 4 Years - Budget 2025.
— Tax Guru (@taxguru_in) February 1, 2025
(SocialLY brings you all the latest breaking news, fact checks and information from social media world, including Twitter (X), Instagram and Youtube. The above post contains publicly available embedded media, directly from the user's social media account and the views appearing in the social media post do not reflect the opinions of LatestLY.)
(The above story first appeared on LatestLY on Feb 01, 2025 12:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
