Income Tax : Overview of updated returns: 48-month filing window, eligibility, exclusions, DSC/EVC filing, required schedules, computation of t...
Income Tax : Learn about the Updated Income Tax Return (ITR-U) under Section 139(8A). Discover its benefits, eligibility, and the process for f...
Income Tax : Understand ITR-U, the updated income tax return under Section 139(8A). Learn who can file, key changes from the Finance Act 2025, ...
Income Tax : Ever missed a tax deadline or realized you underreported income in a past return? The Income Tax Department offers two remedies: U...
CA, CS, CMA : Comparison of ITR-U (Section 139(8A)) and Condonation of Delay of ITR (Section 119(2)(b)) Introduction The Income Tax Act, 1961, p...
Income Tax : Learn about updated returns under Section 139(8A) of the Income Tax Act, including eligibility criteria, restrictions, and conditi...
Income Tax : Learn how to file updated returns under Section 139(8A) of the Income Tax Act within 24 months from the assessment year end. Know ...
Income Tax : Department urges taxpayers, to view their AIS through e-filing portal and file updated ITRs (ITR-U), wherever necessary. Eligible ...
Income Tax : Explore the challenges faced by Karnataka State Chartered Accountants Association (R) in processing updated returns under Section ...
Income Tax : The central issue was the correct depreciation rate for the HP Indigo Digital Press. ITAT Mumbai ruled the printer is an integral ...
Income Tax : CBDT Notifies vide Notification No. 48/2022-Income Tax Dated- 29.04.2022 Form and Manner for filing updated Income Tax return. Upd...
Overview of updated returns: 48-month filing window, eligibility, exclusions, DSC/EVC filing, required schedules, computation of tax, interest and additional tax slabs (25%–70%), and obligations for subsequent-year corrections.
The central issue was the correct depreciation rate for the HP Indigo Digital Press. ITAT Mumbai ruled the printer is an integral part of a computer system due to its reliance on interface and proprietary software, thus allowing the higher 60% depreciation rate. This ruling confirms that machines functionally dependent on a computer system qualify for the higher depreciation applicable to ‘computers’.
Learn about the Updated Income Tax Return (ITR-U) under Section 139(8A). Discover its benefits, eligibility, and the process for filing to correct mistakes and report omitted income.
Understand ITR-U, the updated income tax return under Section 139(8A). Learn who can file, key changes from the Finance Act 2025, and how to file a corrected return.
Ever missed a tax deadline or realized you underreported income in a past return? The Income Tax Department offers two remedies: Updated Returns (ITR-U) and Condonation of Delay. While both address late filings, they serve different purposes. Let’s break down their differences in plain language to help you choose the right option.
Comparison of ITR-U (Section 139(8A)) and Condonation of Delay of ITR (Section 119(2)(b)) Introduction The Income Tax Act, 1961, provides different mechanisms for taxpayers to address missed deadlines for filing Income Tax Returns (ITR). Two key provisions in this regard are: ITR-U (Section 139(8A)) – Allows taxpayers to update their returns by paying additional tax. […]
The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This provision gives taxpayers an opportunity to correct errors or omissions in their previously filed returns, even after the prescribed deadlines have passed.
The Finance Bill, 2025 extends the time limit for filing updated returns to 48 months, with varying additional taxes based on filing time.
The Finance Bill 2025 extends the time limit for filing updated ITR from 24 to 48 months, with revised additional tax rates based on filing timelines.
Learn about updated returns under Section 139(8A) of the Income Tax Act, including eligibility criteria, restrictions, and conditions for furnishing updated returns.
