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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
The Income Tax Department has urged timely filing, as returns filed before the deadline attract a lower additional tax of 25%.
Missing the deadline increases this to 50% of the additional tax, plus interest.
Kind Attention Taxpayers!
Please file Updated ITR for AY 2023-2024 by March 31st, 2025 to avail lower additional tax of 25% and Interest.
Don’t delay, file today! pic.twitter.com/8NUYG03yBF
— Income Tax India (@IncomeTaxIndia) March 24, 2025
What is an updated ITR?
ITR-U allows taxpayers to correct errors or disclose unreported income in previously filed returns. Introduced in 2022, this provision permits revisions within two years of the relevant assessment year.
Taxpayers can file an updated return even if they missed filing the original or belated return.
ITR-U is a form that lets taxpayers update their income tax returns.
Tax implications based on timing
Before March 31, 2025: 25% additional tax + interest
After March 31, 2025: 50% additional tax + interest
New rule from April 2025
The government plans to extend the ITR-U filing period from two years to four years. While this gives taxpayers more time to declare undisclosed income, it also comes with higher penalty taxes.
So far, over 90 lakh updated ITRs have been filed in last four years, adding ₹9,118 crore to the exchequer.