Attention Taxpayers: File your Updated Income Tax Returns (ITR-U) for A.Y. 2021-2022 before 31st March 2024
Taxpayers – Income Tax Returns – Income tax department – Income Tax – ITR – Assessment – TAXSCAN
Taxpayers – Income Tax Returns – Income tax department – Income Tax – ITR – Assessment – TAXSCAN
The Income tax department has notified the deadline for the filing of the updated Income Tax Returns (ITR-U) for Assessment Year 2021-2022.
The income tax department stated in ‘X’, formerly known as ‘twitter’, that: –
“Kind Attention Taxpayers!
Last date for filing your Updated Income Tax Return for Assessment Year 2021-2022 is 31st March, 2024.
Don’t delay, file today!”
When to file updated ITR?
- Taxpayers who have not filed original and / or revised return.
- Taxpayers who desire to modify the original return when income is not declared correctly, including
- Incorrect head of income is selected or tax is paid at wrong rate.
- Reduction in carried forward loss or unabsorbed depreciation is required.
- Reduction Of MAT/AMT credit is required.
| File ITR-U till 31.03.2024 | Additional income tax payable |
| For A.Y. 2021-22 | 50% of aggregate of tax & interest payable as per provisions of Section 140 B(3) of the Income Tax Act |
| For A.Y. 2022-23 | 25% of aggregate of tax & interest payable as per provisions of Section 140 B(3) of the Income Tax Act |
For more information please refer to Section 139 (8A) & 140 B(3) of Income-tax Act, 1961.
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