CBDT Notifies Form and Manner for filing Updated Return

(A) Electronically under digital signature;

(B) Transmitting the data electronically in the return under electronic verification code.

INDIAN INCOME TAX UPDATED RETURN

[For persons to update income within twenty-four months from the end of the relevant assessment year]

(Refer instructions for eligibility)

(Please see rule 12AC of the Income-tax Rules, 1962)

PART A GENERAL INFORMATION – 139(8A)

(A1) PAN

(A2) Name

(A3) Aadhaar Number (12 digits)/ Aadhaar Enrolment Id (28 digits) (If eligible for Aadhaar No.)

(A4) Assessment Year [Please see instruction]

(A5) whether return previously filed for this assessment year?

• Yes

• No

(A6) If yes, Whether filed u/s…. 139(1)…… Others

 (A7) If applicable, enter form filed, Acknowledgement no. or Receipt No. and Date of filing original return (DD/MM/YYYY)

(Please select ITR type from dropdown)

Ack no and date of filing

 / /

(A8) Are you eligible for filing an updated return as per the conditions laid out in first, second and third provisos to section 139(8A)?

• Yes

• No

(A9) Please choose the ITR form for updating your income (ITRs 1-7 to be selected from drop-down and filled as per the details made available by e-filing utility – see instruction)

(A10) Reasons for updating your income:

• Return previously not filed

• Income not reported correctly

• Wrong heads of income chosen

• Reduction of carried forward loss

• Reduction of unabsorbed depreciation

• Reduction of tax credit u/s 115JB/115JC

• Wrong rate of tax

• Others

(A11) Are you filing the updated return during the period upto 12 months from the end of the relevant assessment year between 12 to 24 months from the end of the relevant assessment year

(A12) (a) Are you filing the updated return to reduce carried forward loss or unabsorbed depreciation or tax credit?

o Yes

o No

(b) If yes, please specify the assessment years where carried forward loss or unabsorbed depreciation or tax credit is being affected because of this updated return. (Please select from drop down menu)

• Whether revised return has been filed for the AY in (b) above ……Yes ….No

• Whether updated return has been filed for the AY in (b) above ….Yes …..No

PART B – ATI COMPUTATION OF TOTAL UPDATED INCOME AND TAX PAYABLE

1.

A

Head of income under which additional income is being returned as per Updated Return

Amount in Rs

Head of income (If yes, Please specify additional income)

a

Income from Salary

b

Income from House Property

c

Income from Business or Profession

d

Income from Capital gains

e

Income from other Sources

f

Total additional income (a+b+c+d+e)

B.

Total income as per last valid return (only in cases where the Income Tax Return has previously been filed)

2.

Total income as per Part B-TI (Please see instruction)

3.

Amount payable, if any (To be taken from the ―Amount payable‖ of Part B-TTI of the updated ITR) (Please see instruction)

4.

Amount refundable, if any (To be taken from ―Refund‖ of Part B-TTI of the updated ITR) (Please see instruction)

5.

Amount payable on the basis of last valid return (only in applicable cases)

6.

(i) Refund claimed as per last valid return, if any (Please see instruction)

(ii) Total Refund issued as per last valid return, if any (including interest u/s 244A received) (Please see instruction)

7.

Fee for default in furnishing return of income u/s 234F

8.

Regular Assessment Tax, if any (in applicable cases)

9.

Aggregate liability on additional income,

(i) in case refund has been issued [3 + 6ii- (5 + 8)])

(ii) in case refund has not been issued [3 + 6i – (5+8)]

10.

Additional income-tax liability on updated income [25% or 50% of (9-7)]

11.

Net amount payable (9+10)

12.

Tax paid u/s 140B

13.

Tax due (11-12)

14.

TAX PAYMENTS (ONLY as per Updated Return)

A

Details of payments of tax on updated return u/s 140B

TAX PAID U/S 140B

Sl No

BSR Code

Date of Deposit

(DD/MM/YYYY)

Serial Number

of Challan

Amount (Rs)

(1)

(2)

(3)

(4)

(5)

i

ii

iii

iv

NOTE ►

Enter the totals of tax paid u/s 140B at Sl. No.11 of Part B-ATI

TAX PAYMENTS

B

Details of payments of Advance Tax / Self-Assessment Tax / Regular Assessment Tax, credit for which has not been claimed in the earlier return (credit for the same is not to be allowed again under section 140B(2) )

ADVANCE/SELF ASSESSMENT/ REGULAR ASSESSMENT TAX

Sl No

BSR Code

Date of Deposit

(DD/MM/YYYY)

Serial Number

of Challan

Amount (Rs)

(1)

(2)

(3)

(4)

(5)

i

ii

iii

iv

NOTE ►

Credit for above is not to be allowed again under section 140B(2)

15. Relief u/s 89 which is not claimed in earlier return [relief for the same is not to be allowed under section 140B(2)]

Rs.