In the Union Budget 2022, the Central Government has introduced the new scheme which permits all tax-payers to file an “Updated Return” within 24 months from the end of the relevant assessment year.
The new provision allows the tax-payers to update or file their Income Tax returns on payment of additional tax. It is issued in the object of providing an opportunity for voluntary compliance by tax-payers who have missed filing their Income Tax return for the FY 2019-20 and 2020-21.






