Can I File ITR for FY 2022-23 Now? Filing an Updated Return (ITR-U) in 2026

Perhaps you didn't file a return for FY 2022-23 because your income seemed too low, or you filed it but left out some interest, a capital gain or freelance income. Now you've received a notice, a loan application needs three years' ITRs, or you simply want to set the record straight.

Quick answer: Yes. The original and belated return deadlines for FY 2022-23 (AY 2023-24) have passed, but you can still file an updated return in Form ITR-U under Section 139(8A) until 31 March 2028. Filing it between April 2026 and March 2027 requires you to pay 60% additional tax on top of the tax and interest due. ITR-U can only be used to report more income or pay more tax, not to claim a refund or a loss.

The Income-tax Act, 2025 came into force on 1 April 2026 and renumbers these provisions. Updated returns for years governed by the 1961 Act continue under the old provisions, subject to the transition rules. The ITR-U form on the e-filing portal will reflect the applicable law.

Why Regular Filing Is No Longer Possible for FY 2022-23

ITR-U is now the only route to file or correct a return for FY 2022-23 on your own, unless you receive a notice from the Department.

Last Date to File Updated Return

Originally, ITR-U could be filed within 24 months from the end of the relevant assessment year. The Finance Act, 2025 extended this to 48 months, effective 1 April 2025.

ITR-U Additional Tax: 25%, 50%, 60% or 70%

Under Section 140B, you must pay additional tax as a percentage of the aggregate of tax and interest payable on the updated return.

Where FY 2022-23 falls today

AY 2023-24 ended on 31 March 2024.

1. 1 April 2026 to 31 March 2027: 24–36 months → 60%
2. 1 April 2027 to 31 March 2028: 36–48 months → 70%

Filing before 31 March 2027 saves 10 percentage points.

Worked example

Pooja, a freelance content writer in Kochi, earned ₹9,00,000 in FY 2022-23 but did not file a return. Under the new regime slabs for that year, her tax works out to ₹46,800 including 4% cess, with no TDS.

Total to pay before filing ITR-U

₹1,15,080

Figures are illustrative. Your actual tax depends on the regime chosen, deductions and interest calculated up to the date of filing.

When ITR-U Cannot Be Filed

You cannot file an updated return if it:

1. results in a lower tax liability than the original return,
2. results in or increases a refund,
3. is a return of loss or reduces loss shown earlier,
4. is filed when search, survey or requisition has been initiated against you for that year,
5. is filed after an assessment, reassessment or revision is pending or completed for that year,
6. is filed when the AO has information about you under specific laws (such as PMLA or black money laws) and has communicated it, or
7. is a second updated return for the same year.

The Finance Act, 2025 also allows ITR-U to be filed after a reassessment notice under Section 148 in some cases, if the Assessing Officer later decides under Section 148A that it is not a fit case for reassessment.

How to File ITR-U

• Compute the correct income for FY 2022-23, using your AIS, Form 26AS, bank statements and Form 16/16A.
• Calculate tax, interest and additional tax under Section 140B.
• Pay the full amount through e-Pay Tax on the e-filing portal, choosing AY 2023-24 and the minor head for self-assessment tax. Keep the challan details.
• Log in to the e-filing portal, go to e-File → Income Tax Returns → File Income Tax Return, select AY 2023-24 and the filing section 139(8A) – Updated Return.
• Select the applicable ITR form (ITR-1 to ITR-7) and fill Part A of ITR-U, giving the reason for updating (such as "return not filed earlier" or "income not reported correctly").
• Verify using Aadhaar OTP, net banking or DSC within 30 days.

Belated Return vs Updated Return

Penalty for Not Filing ITR

1. Late fee under Section 234F: ₹5,000, or ₹1,000 if total income does not exceed ₹5 lakh.
2. Interest under Sections 234A, 234B and 234C on unpaid tax.
3. Prosecution under Section 276CC in serious cases of wilful failure, though in practice this is rare where tax is paid voluntarily.
4. Risk of a reassessment notice if the Department's data shows taxable income.

Filing ITR-U voluntarily, before the Department acts, is generally cheaper than a reassessment where penalties for under-reporting can apply.

Frequently Asked Questions

1. Can I file ITR for FY 2022-23 now? Yes, through an updated return (ITR-U) until 31 March 2028, provided the return increases your tax or reports new income.

2. What is the additional tax for filing ITR-U for FY 2022-23 now? 60% of tax plus interest if filed by 31 March 2027, and 70% if filed between 1 April 2027 and 31 March 2028.

3. Can I claim a refund through ITR-U? No. ITR-U cannot create or increase a refund.

4. Can I file ITR-U if I never filed the original return? Yes, as long as the updated return results in tax payable and none of the restrictions apply.

5. Is the late fee payable with ITR-U? Yes. Section 234F late fee applies if the original return was not filed on time.

6. Can I file ITR-U after receiving a notice? Generally not if assessment or reassessment is pending. The 2025 amendment allows it in limited cases after the AO drops a 148A proceeding.