Acountax

Kind attention Taxpayers!

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

Employers defaulting on contributions are liable to pay Damages & Interest on the amount due.

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