1. Any person Eligible to File updated returns for FY 2019-20 and subsequent assessment years as per the relevant provisions of the IT Act can file the updated return via Form ITR-U. A taxpayer would be able to file only one updated return for each assessment year.
2. Income Tax Department enabled E-filing of Updated ITR u/s 139(8A) has been enabled for AY 2020-21 and AY 2021-22
3. Step by Step approach for Updating previous year returns
a. Go to the Download section of the Income Tax Site (https://www.incometax.gov.in/iec/foportal) and select the AY for which you want to file Updated ITR
b. There you can see the Date of latest release of JSON Schema as 27th June 2022, At present you can update ITR 1 and 4 only
c. Download the Excel based utility and you’ll find the older version of the ITR Excel utility
d. After entering the relevant details in the PART A, You can see the Filed u/s option, there you can find Section 139(8A)
e. After selecting the section 139(8A), you can able to see “Part A General Information- 139 (8A), this is ITR – U. There you can fill the relevant details
f. In the Part A General Information tab, (ITR-U) you can able to see the reason for Updating your return drop down menu, select the relevant cause from that
g. After filling of all the details you can able to download XML file which you can file in the Income tax website by selecting relevant AY in the File Income tax return tab
Kindly note that ITR -U can be filed in the following cases
Return Previously not filed.
Income not reported correctly
Wrong Heads of Income Chosen
Reduction of Carried forward losses
Reduction of unabsorbed Depreciation
Reduction of Tax Credit u/s 115JB/115JC
Wrong rate of tax
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Great Article Indeed! But could anyone help me to fill the Pincodes in the Schedule HP and Salary Schedules, Where you cant enter some pincodes for example 600034,600085 or other Chennai related pincodes.
The Dialogue box displays please enter a valid pincode. Could any one kindly enlighten me on how to mitigate this error?
When ITR 2/3/5 will be available for filing u/s. 139(8a)????
It is available now.
Go to Income Tax Site-Download-chose appropriate form and down load the excel utility-read instructions -fill it -download JSON-submit
Great Article..!! Do you know when can we expect ITR2 to be enabled for this option?
If I had wrongly filed ITR1 form in AY 2020-21 and wrongly claimed rebate u/s 89 and received demand for pending Tax payment (as Relief claimed u/s 89 was not considered). Can I file updated return now, with correct ITR2 form type (once its available) to claim under correct relief u/s 90/90A, along with Form 67.
In the following cases ITR -U can not be filed :
1.NIL Return
2.Loss Return
3.Increase in Refund/Claiming of Refund
4.Search/Survey/Prosecution Proceedings are Initiated for said A.Y. 5.Assessment/Reassessment/Revision/Re-computation is Pending or Completed for Said A.Y.