ITR
Only one updated return per year
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Facts
No. Only one updated return can be filed for an assessment year, and it cannot be revised. So it must be complete the first time.
Provisions and law
- Sec 139(8A), Income-tax Act 1961 (now Sec 263(6), Income-tax Act 2025)Updated return within 48 months from the end of the relevant assessment year, once per year, not to reduce tax or raise a refund.
Analysis
Before filing, check AIS, Form 26AS and all bank and broker statements for that year. List every missed item. A second mistake after filing cannot be fixed through another ITR-U. If something is missed, you may have to explain it if a notice comes.
Conclusion
- Download AIS and Form 26AS for that year.
- List all missed items.
- Include all of them in one updated return.
- Review before filing.
A Savvy can do this for you
Updated return, ITR-U, Sec 263(6) (old 139(8A))
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