Income Tax : The Finance Bill, 2025 extends the time limit for filing updated returns to 48 months, with varying additional taxes based on fili...
Income Tax : The Finance Bill 2025 extends the time limit for filing updated ITR from 24 to 48 months, with revised additional tax rates based ...
Income Tax : Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn a...
Income Tax : Section 139(8A) of the Income Tax Act allows filing an updated return within 24 months from the end of the relevant assessment yea...
Income Tax : Learn about Section 139(8A) effective from April 1, 2022, its impact on tax filing, rules, and when to file updated returns. Get i...
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 : CBDT Notifies vide Notification No. 48/2022-Income Tax Dated- 29.04.2022 Form and Manner for filing updated Income Tax return. Upd...
Updated Income Tax Return has been introduced by inserting a new sub-section (8A) to Section 139 of Income Tax Act, 1961 to provide an opportunity to taxpayers to rectify the mistake of omission of income in the Return of Income filed.
Understand the concept of Income Tax Updated Return (ITR-U) and its implications. Discover how it allows taxpayers to rectify errors or omissions in their previous ITR filings.
Learn about the new ITR-U return introduced by the Department of Finance. Find out how and when you can file updated income tax returns.
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 […]
Get the latest updates on income tax return under section 139(8A). Learn about the concept of ‘updated return’ introduced by Finance Act 2022.
Learn about filing an updated return (ITR-U) under Income Tax regulations. Discover eligibility, time limits, form type (ITR-U), tax liabilities, and penalties. Ensure compliance and avoid penalties with updated returns.
Explore the dimensions of updated return under Section 139(8A) & Tax implications as per Section 140B of the Income Tax Act, 1961. Learn the conditions, time limits, and additional tax rates for correcting omissions or errors. Stay informed for better tax compliance.
Learn all about the new Section 139(8A) of the Income Tax Act and how it allows taxpayers to file updated returns for missed income.
The Central Board of Direct Taxes (CBDT) has notified a new Rule 12AC and a new Form ITR-U which shall be required to be filed along with the respective ITR, to furnish an updated return
Explore Section 139(8A) of the Income Tax Act with the introduction of ITR-U for ‘Updated’ income tax returns. Learn about the new provision allowing taxpayers to rectify errors or omissions within two years of filing, accompanied by additional tax payments. Ensure compliance and stay informed with the latest updates.
