News > 2-year timeframe for taxpayers to correct mistakes in return

2-year timeframe for taxpayers to correct mistakes in return

Orissa Post | 01/02/2022 04:35 PM | Click to read full article

Finance Minister Nirmala Sitharaman gave Tuesday a one-time window to taxpayers to correct any discrepancy or omissions in their ITRs within two years of filing, subject to payment of taxes.

In her 2022-23 Budget speech, the Minister said this is an ‘affirmative step in the direction of voluntary tax compliance’.