New Delhi, May 24 -- If a taxpayer has missed filing income tax returns (ITRs) for previous financial years, certain remedies may still be available under the income tax act depending on the nature of the case and time elapsed since the original deadline.

The available course of action generally depends on factors such as whether the taxpayer is claiming a refund, needs to correct errors is previously filed return, declare income that was missed earlier, or failed to file an ITR altogether. There are two provisions available: Updated returns or condonation of delay requests but both serve different purposes.

Condonation of delay filing and updated return (ITR-U) are two different remedies under the income tax law

According to two exper...