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From 1 April 2025, a six-year limit applied to correction statements. From 1 April 2026, the 2025 Act allows correction statements only within two years from the end of the tax year in which the original statement was due, and CBDT said older periods closed on 31 March 2026.
Sec 397(3)(b), Income-tax Act 2025 (old Sec 200(3)); Sec 397(3)(b), Income-tax Act 2025 (old Sec 200(3))
Example: a Q3 FY 2025-26 statement was due 31 January 2026, so the year it was due ends 31 March 2026 and corrections are allowed until about 31 March 2028 under the new limit. CBDT said corrections for FY 2018-19 Q4 to FY 2023-24 Q3 were accepted only until 31 March 2026. Fix defaults early, because a time-barred error cannot be corrected and the deductee loses credit.
This limit changed twice in two years; check the latest notice before relying on a date.
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