CBDT notifies ITR-U vide Notification No. 49/2025 dated 19.05.2025.  

Key updates:  

🖋Time Limit Extended to 48 months via Finance Act, 2025.

🖋Additional Tax Payable:

Filing in 3rd year: Additional income tax of 60%.

Filing in 4th year: Additional income tax of 70%.

🖋Section 139(8A) amended: No ITR U can be filed if notice u/s 148A (show-cause notice) issued after 36 months from the end of the relevant A.Y. However, later if 148A(3) order passed saying - not a valid case for notice u/s 148, then ITR U can be filed within 48 months from the end of relevant A.Y.

🖋Section 140B Amended to prescribe additional income-tax payable for the extended timelines.

🖋Rule 12AC Amended accordingly to reflect these changes