What is the due date to file updated return for AY 2022-23. is ot 31st march 2025 or 31st march 2027 as per the latest finance act amendment.
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184449 Points)
Replied 27 March 2025
Proposed Changes (Effective from April 1, 2025):
- Time limit extended from 24 months to 48 months.
- Revised Additional Tax Rates Payable:
-
- Within 12 months – 25% of total tax & interest.
- After 12 months but within 24 months – 50% of total tax & interest.
- After 24 months but within 36 months – 60% of total tax & interest.
- After 36 months but within 48 months – 70% of total tax & interest.
So, if filed on or before 31.03.2025, penalty would be just 50%...
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