Budget 2022: Revised tax filing window to be open for two years from assessment year in case of less filing of tax

Sitharaman announced that the revised tax filing window will remain open for two years from the year of assessment in case of less filing of tax.

New Delhi: During her fourth Budget presentation, Finance Minister Nirmala Sitharaman, on February 1, announced that the revised tax filing window will remain open for two years from the year of assessment in case of less filing of tax. 

While presenting the Budget 2022-23, she said to provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year.

She also announced that 68% of the R&D budget in Defence is earmarked for Make In India.