ITR Filing FY 2022–2023

Original ITR filing deadlines for FY 2022-23 ended on 31 December 2023, but in 2026 taxpayers can still file an updated return under Section 139(8A) within 48 months from the end of the assessment year, that is up to 31 March 2028. The updated return requires payment of an additional tax of 25% to 70% over normal tax and interest, depending on how late it is filed, and cannot be used to claim refunds, increase losses, or reduce tax liability.

Mayank Wadhera

Published: 19 Apr 2023

Updated: 16 May 2026

4 min read

ITR filing for FY 2022-23 may seem like a closed chapter, but in 2026 many taxpayers still need to revisit it — through updated returns under Section 139(8A), refund-related rectifications, or responses to delayed CPC notices. The original due dates are long past, but the income-tax framework still allows specific, narrow routes to set the record straight.

Original timelines that applied to FY 2022-23

Non-audit individuals and HUFs — 31 July 2023 was the original due date under Section 139(1).
Audit cases — 31 October 2023.
Transfer-pricing cases — 30 November 2023.
Belated and revised returns — could be filed up to 31 December 2023.
These windows are now closed; only the updated return remains available in 2026.

Updated return under Section 139(8A) — the only live option in 2026

Introduced by Finance Act 2022, Section 139(8A) allows any taxpayer (subject to specified exclusions) to file an updated return within 48 months from the end of the assessment year. For AY 2023-24 (which is FY 2022-23), the window therefore runs up to 31 March 2028 in 2026 terms. The updated return requires payment of additional tax — 25% extra tax if filed within 12 months, 50% if filed within 24 months, 60% within 36 months and 70% within 48 months — over and above the normal tax and interest.

Restrictions on the updated return

It cannot be filed to claim a refund, increase loss, or reduce tax liability.
It cannot be filed if a search, survey, or prosecution proceeding is initiated for the year.
Only one updated return can be filed per assessment year.
Information from AIS, TIS, and Project Insight is typically the trigger for taxpayers to consider this route.

Why FY 2022-23 still matters in 2026

CPC may be issuing intimations under Section 143(1)(a) for that year up to nine months from financial year end of filing.
Reassessment notices under Section 148 can be issued within the time limits prescribed under the revamped Section 149 framework — typically three years (or up to ten years in escaped-income cases above the prescribed threshold).
Capital gains carry-forward, business loss carry-forward, and depreciation set-off depend on accurate FY 2022-23 numbers.
Refund claims for FY 2022-23, if delayed for genuine reasons, may be revived through Section 119(2)(b) condonation applications.

Compliance discipline going forward

The lesson from FY 2022-23 is the value of timely filing. For current years, file before the Section 139(1) due date to preserve carry-forward of losses, avoid late fee under Section 234F (₹5,000 or ₹1,000 for income up to ₹5 lakh), and avoid interest under Sections 234A, 234B, 234C. Use AIS and Form 26AS as the spine of your filing, reconcile bank interest, dividends, and high-value transactions before submitting.

Lessons for FY 2025-26 filings

Carry-forward of business losses, capital losses, and unabsorbed depreciation is permitted only if the return is filed before the Section 139(1) due date. A single late filing can wipe out years of carry-forward, particularly painful for start-ups and traders. Belated filing under Section 139(4) preserves only some carry-forwards (specifically not business losses).

Build a 60-day pre-filing checklist for FY 2025-26 — reconcile AIS, TIS, Form 26AS, bank interest, dividends, capital gains statements from brokers, and rent income. Use the income tax portal's pre-fill feature as the starting point, not the final answer. Where AIS shows transactions you do not recognise, raise a feedback ticket immediately, before the return submission locks the data.

Strategic decision tree for FY 2022-23 today

If you owe additional tax for FY 2022-23 and the amount has not surfaced in AIS yet, weigh the cost of voluntary updated return (25-70% extra tax) against the risk of a reassessment notice (penalty up to 200% under Section 270A plus interest). Voluntary disclosure is almost always cheaper.

If you simply missed claiming an exemption or deduction, the updated return route does not help because it cannot reduce liability. Consider whether Section 119(2)(b) condonation is available — typically for refund claims with documented hardship. In most other cases, accept the outcome and focus on perfect filing for current years.

Conclusion

FY 2022-23 returns are not entirely closed in 2026. The updated return route under Section 139(8A) gives taxpayers a narrow but useful chance to come clean — at a cost. Treat it as the last call, weigh the additional tax against the risk of reassessment, and going forward, file every year on time to avoid this awkward backward glance.

Frequently Asked Questions

Can I still file my ITR for FY 2022-23 in 2026?

Yes, only through an updated return under Section 139(8A). The original, belated, and revised return windows for FY 2022-23 closed on 31 December 2023, but the updated return can be filed within 48 months from the end of the assessment year, that is up to 31 March 2028, subject to specified restrictions.

What is the additional tax on an updated return?

Under Section 140B, the additional tax is 25% of tax and interest payable if filed within 12 months from the end of the assessment year, 50% within 24 months, 60% within 36 months and 70% within 48 months, in addition to the normal tax and interest under Sections 234A, 234B, and 234C.

Can I claim a refund through the updated return?

No. Section 139(8A) specifically prohibits using the updated return to claim a refund, increase a loss, or reduce overall tax liability. The provision exists to encourage voluntary disclosure of additional income and additional tax payment, not to revisit refund positions.

What if I missed filing because of genuine hardship?

You can apply for condonation of delay under Section 119(2)(b) to the jurisdictional Commissioner or CBDT, depending on the refund amount involved. Approval is discretionary and depends on the documented genuineness of the hardship — illness, technical issues, or events beyond your control.

Are reassessment notices possible for FY 2022-23?

Yes. Under the revised Section 148/149 framework, reassessment notices can be issued within three years generally, and up to ten years for escaped income above ₹50 lakh, subject to procedural safeguards. AIS and Project Insight data continue to flag mismatches that may trigger such notices.