Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
Income Tax : The Finance Bill 2026 proposes allowing taxpayers to file an Updated Return even after receiving a reassessment notice under Secti...
Income Tax : Section 139(8A) now permits filing of ITR-U within 48 months from the end of the assessment year. However, it cannot be used to re...
Income Tax : Explore the legal and technical hurdles in filing Updated Returns under Section 139(8A), including Excel utility dependencies and ...
Income Tax : Explains deadlines for belated returns and the updated ITR-U window, helping taxpayers avoid escalating additional tax under secti...
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 Court ruled that an assessee cannot invoke Section 139(8A) after initiation of assessment proceedings under Section 143(2). It...
Income Tax : The Tribunal held the reassessment invalid as NFAC completed the process without issuing a mandatory notice under section 148A. It...
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...
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.
Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn about new dates, old regime, and key considerations.
Section 139(8A) of the Income Tax Act allows filing an updated return within 24 months from the end of the relevant assessment year. Learn more about eligibility, provisions, and FAQs.
Learn about Section 139(8A) effective from April 1, 2022, its impact on tax filing, rules, and when to file updated returns. Get insights now!
Learn how to file updated returns under Section 139(8A) of the Income Tax Act within 24 months from the assessment year end. Know the exclusions.
