The Government under the leadership of Honourable Prime Minister Mr. Modi believes in “Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayas”. In line with this, government brought in updated return
facility in 2022 for voluntary compliance by taxpayers who had omitted to report their correct income. Government’s trust in taxpayers was proved right. Nearly 90 lakh taxpayers voluntarily updated their incomes by paying additional tax. Taking this trust further, government now propose to extend the time-limit to file updated returns for any assessment year, from the current limit of two years, to four years from the end of relevant assessment year u/s 139(8A).