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 how to file an Updated Return (ITR-U) for previous 3 years' taxes. Find out who can file, the procedure, time limits, penalt...
Income Tax : Discover the benefits of ESI registration in Gurgaon for businesses, offering health security for employees, legal compliance, and...
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...
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 […]
Learn about the updated provision of filing an income tax return under the Income Tax Act. Find out how to file an updated return within two years from the end of the assessment year.
There are many changes in the tax rules effective 1st April 2022, Out of which I am going to discuss are New tax rules on EPF Interest, Taxation of Virtual Digital Assets, Filing of Updated IT Return and Tax relief on Covid-19 treatment expenses and compensation. 1. New tax rules on EPF Interest: Effective April 1, […]
As per this new clause, a Taxpayer will be allowed to file an ‘Updated Return’ to file Pending Return or correct the Omissions and Errors that are reported in the Original Return. The Time limit for filing the Updated Return is within two years from the end of relevant Assessment year.
Understand the difference between updated return and revised return in India. Learn when to use each type of income tax return.
The Finance Act, 2022 has introduced a new provision for furnishing of updated return by inserting a new sub-section (8A) in section 139 of the Income Tax Act. The newly inserted section, if to be put in simple words, says if a person has not furnished an original or belated or revised return under the […]
Arjuna (Fictional Character): Krishna, Honourable Finance Minister had declared the Finance Budget of 2022-23 on 01st February in the Lok Sabha wherein proposal to bring provision of filing updated return of income tax was introduced. What is this provision of filing updated return? Krishna (Fictional Character): Arjuna, it is proposed to insert a new provision […]
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