ITR filing for AY 2022-23:

1. The last date for income tax return (ITR) filing for FY 2021-22 or for AY 2022-23 in non audit cases is 31st July 2022 and for filing.

Individual / HUF/ AOP/ BOI

(books of accounts not required to be audited)

2. The last date for income tax return (ITR) filing for FY 2021-22 or for AY 2022-23 in  audit cases is 31st  October 2022 and for filing.

Businesses (Requiring Audit)

3. The last date for income tax return (ITR) filing for FY 2021-22 or for AY 2022-23 in  transfer pricing cases is 30th November 2022 and for filing.

Businesses (Requiring TP Report)

ITR-U will also be available for filing updated returns for FY 19-20 & FY 20-21.

Cases in Which ITR-U Can be Filed ?

1. Return Previously not filed.

2. Income not reported correctly

3. Wrong Heads of Income Chosen

4. Reduction of Carried forward losses

5. Reduction of unabsorbed Depreciation

6. Reduction of Tax Credit u/s 115JB/115JC

7. Wrong rate of tax

Note: Taxpayers will be allowed to file only 1 such correction (updated return) per AY.

Cases in which ITR-U Form Cannot be filed?

1. The updated return is a return of the loss

2. The return is reducing the income tax liability from the return filed earlier

3. The return result increases the refund

4. Search/Survey/Prosecution are Initiated for said A.Y.

5. Any proceedings for Assessment / Reassessment/Revision/Recomputation is Pending or Completed for Said A.Y. Act will not allow to file the updated return if there is no additional tax outgo.

Additional Tax:

The Act requires that the taxpayer has to pay an additional 25% interest on the tax due if the updated ITR is filed within 12 months from the end of relevant AY.

While interest will go up to 50% if it is filed after 12 months but before 24 months from the end of relevant AY.

Taxpayers looking to file the same for FY 19-20 will need to pay the due tax and interest along with an additional 50% amount of such tax and interest.

For those looking to file for FY 20-21, the additional amount will be 25% of the due tax and interest.

Please call us on 9780754114 , if you have any doubt or query on that matter.

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  1. anil mehta says:

    my income is below 5 lacs for f.y 22-23 and tds is 5800/ can I fle my itr for above f.y and claim the refund after adjusting the late fees

  2. Vrushali Mehta says:

    I have filled the excel utility available on website for AY 21-22 u/s.139(8A). After completing the entire process while generating JSON file there is an automation error – Run-time error-2146232576 (80131700). As asked by the agents of Income Tax Website the cookies , cache & browsing history of chrome was deleted still I am not able to generate the JSON file.
    Please help me with this error as uploading of return is pending because of this error.

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February 2024