A.Y. 2021-22 updated Return


This query is : Resolved 

Quick Summary
If you've made an error on your AY 2021-22 tax return, such as incorrectly claiming entertainment allowance or forgetting to claim housing interest, you might receive a demand notice. While you can typically file a rectification request to correct data and potentially reduce the demand, you cannot use the updated return (ITR-U) if the correction results in a lower tax liability than originally filed.

22 December 2022 have Wrongly Claimed Entertainment allowance of Rs.50000 instead of 5000 for Year A.Y.2021-22

And I have forgot to Claim Housing interest

Now I have Received 143(1) intimation Showing Demand

How Can I rectify that Mistake
And Avoid Demand of 143 (1)

22 December 2022 Practically, you can file rectification request with correct data, and check if there is any reduction in demand.

22 December 2022 Can i Rectify This Mistale in Updated Return (ITR U) For A.Y. 2021-22 ??

22 December 2022 No. Because you will not be able to file updated return, when the tax liability is lesser than the original return.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Follow