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<h1>Updated Income Tax Returns Now Possible: Taxpayers Can Modify Filings Within 48 Months of Assessment Year</h1> The Central Board of Direct Taxes has notified Form ITR-U for updated income tax returns for Assessment Year 2025-26. The new form allows taxpayers to update their income within 48 months from the end of the relevant assessment year, with provisions for correcting previously filed returns or declaring previously unreported income. The notification provides a detailed form with sections for reporting additional income, tax calculations, and payment requirements under section 139(8A) of the Income-tax Act.
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