Taxpayers can update returns within 2 years: FM
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During he budget speech, FM Nirmala Sitharaman said, new provision for filing an updated income tax return for payment for additional tax within two years from the relevant assessment year. Both Centre and State government employees' tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt employees, Sitharaman added.