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 : The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This pro...
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 : 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...
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.
Discover the details of ITR-U, the updated income tax return under Section 139(8A) of the Income Tax Act. Learn about the filing period, limitations, required details, and additional tax payments. Uncover reasons for updating and the criteria for eligibility. Stay informed for a seamless tax filing experience.
Finance Act, 2022 has brought new Income Tax return filing facility to be known as ‘Updated Return’. For this purpose a new sub section 8(A) has been added to section 139 of the Income Tax Act (w.e.f. 01.04.2022). Simultaneously, a new Rule 12AC has also been inserted in the Income Tax Rules, wherein form and manner of filing updated return has been prescribed.
Learn about the updated income tax form ITR-U and how it can help correct errors, reduce losses, and claim tax credits.
Discover the benefits of filing the Updated Return u/s 139(8A) under the Income Tax Act. Learn about the eligibility and conditions for submitting the Updated Return and avoid tax uncertainties.
Learn about the new concept of Update Return in income tax. Discover the consequences of under reported income and how to rectify it for assessment years.
Understand the concept of Updated Return under section 139(8A) of the Income Tax Act. File corrected returns, reduce losses, and rectify incorrect disclosures.
CBDT Notifies vide Notification No. 48/2022-Income Tax Dated- 29.04.2022 Form and Manner for filing updated Income Tax return. Updated return can be filed from the assessment year 2020-21 onwards. Return shall be filed in form no. ITR-U along with applicable ITR form from ITR-1 to ITR-7. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF […]
