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Filing of Updated Income Tax Return Form ITR-U enabled

"1. Any person Eligible to File updated returns for FY 2019u201320 and subsequent assessment years as per the relevant provisions of the IT Act can file the updated"<br>TaxGuru is a platform that provides Updates On Amendments in Income Tax, Wealth Tax, Company Law, Service Tax, RBI, Custom Duty, Corporate Lawu00a0, Goods and Service Tax etc.<br>To know more visit https://taxguru.in/income-tax/filing-updated-income-tax-return-form-itr-u-enabled.html

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Filing of Updated Income Tax Return Form ITR-U enabled

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  1. FILING OF UPDATED INCOME TAX RETURNFORMITR-U ENABLED AUTHOR :CA SRIKANTHVUPPALA https://taxguru.in/income-tax/filing-updated-income-tax-return-form-itr-u-enabled.html 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 assessmentyear. Income Tax Department enabled E-filing of Updated ITR u/s 139(8A) has been enabled for AY 2020-21 and AY2021-22 Step by Step approach for Updating previous yearreturns a. Go to the Download section of the Income Tax Site (https://www.incometax.gov.in/iec/foportal) and select the AY for which you want to file UpdatedITR b. There you can see the Date of latest release of JSON Schema as 27th June 2022, At present you canupdate ITR 1 and 4only

  2. c. Download the Excel based utility and you’ll find the older version of the ITR Excelutility d. After entering the relevant details in the PART A, You can see the Filed u/s option, there you can findSection 139(8A)

  3. e.Afterselectingthesection139(8A),youcanabletosee“PartAGeneralInformation-139(8A),thisisITR–e.Afterselectingthesection139(8A),youcanabletosee“PartAGeneralInformation-139(8A),thisisITR– U. There you can fill the relevantdetails f. In the Part A General Information tab, (ITR-U) you can able to see the reason for Updating your return drop down menu, select the relevant cause fromthat

  4. g. After filling of all the details you can able to download XML file which you can file in the Income tax website by selecting relevant AY in the File Income tax returntab Kindly note that ITR -U can be filed in the followingcases Return Previously not filed. Income not reported correctly Wrong Heads of IncomeChosen Reduction of Carried forward losses Reduction of unabsorbed Depreciation Reduction of Tax Credit u/s115JB/115JC

  5. Wrong rate oftax Author can be reached @vsrikanthandco@gmail.com

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