Income Tax (Nineteenth Amendment) Rules, 2025 - Substitution of Form ITR U: Notification No. 49 /2025 [G.S.R. 322(E)/F. No. 370142/20/2025-TPL], dated 19th May, 2025: The Central Board of Direct Taxes (CBDT) notifies Form ITR U for A.Y. 2025-26. The Finance Act 2025 has amended Section 139(8A) of the Income Tax Act, 1961 (the Act) to increase the time limit for filing an updated return from 24 months to 48 months from the end of the relevant assessment year. The new time limit of 48 months is effective from 01st April, 2025. Thus, in the financial year 2025-26, a person can file an updated return for Assessment Years 2021-22, 2022-23, 2023-24, and 2024-25. To incorporate the amendments, CBDT has amended Form ITR-U, which is used for filing updated returns of income under section 139(8A) of the Act. The revision enables taxpayers to file updated returns for a period of up to 48 months from the end of the relevant assessment year. .......