Income Tax Update: ITR-U is now available on Income Tax Portal
Sushmita Goswami | Jun 28, 2022 |
Income Tax Update: ITR-U is now available on Income Tax Portal
E-filing of Updated ITR u/s 139(8A) has been enabled for AY 2020-21 and AY 2021-22 using Excel utility for ITR 1 and 4.
The IT Department has enabled the filing of ITR-U on the income tax portal. The Income Tax E-filing Portal announced on 27.06.2022 that “E-filing of Updated ITR u/s 139(8A) has been enabled for AY 2020-21 and AY 2021-22 using Excel utility for ITR 1 and 4. Refer details in News section. Please click Downloads | Income Tax Department to access and download the same for clicking respective AY folder. Once Updated ITR is prepared, you can upload the XML/JSON by logging into the Income-tax website.”
In accordance with section 139(8A) and Rule 12AC, individuals are given twenty-four months from the conclusion of the relevant assessment year to revise their income. Page 1 / 4. Taxpayers who file an ITR-U must explain why they updated their income: previously unfiled return, Income not reported correctly.
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