If you've missed filing your Income Tax Return (ITR) for the past three years, it's still possible to submit them. You can use the ITR-U form to update returns with errors or omissions for up to two years past the relevant assessment year. The process involves gathering necessary documents like Form 16 and bank statements for each year, downloading the correct ITR forms, filling in all details, computing any tax liability, paying outstanding taxes, and finally filing and verifying your returns.
Missed the deadline for filing your ITR?
No worries! Yes, It's possible to file the ITR of last 3 years through ITR-U form.
What is ITR U?
ITR-U is the Form that allows you to update your income tax return by rectifying errors for up to two years from the end of the relevant assessment year.
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FAQ :
Yes, you can still file your Income Tax Return (ITR) for the last three years. The ITR-U form allows you to update returns with errors or omissions for up to two years from the end of the relevant assessment year.
The ITR-U form is an 'Updated Return' form that allows taxpayers to rectify errors or update omitted income details in their previously filed original, belated, or revised income tax returns.
You will need to gather documents such as Form 16, Form 26AS, bank statements, and any other relevant documents related to your income and investments for each of the three years.
The process involves gathering documents, downloading the relevant ITR forms from the Income Tax Department's website, filling in all details, computing tax liability, paying any pending taxes, filing the ITR online, and finally verifying it.
You can verify your filed ITR using your Aadhaar card, net banking, or by sending a physical copy of the ITR-V to the Income Tax Department.