Filing of Income Tax Return for earlier year

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This query is : Resolved

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A taxpayer wishes to file a revised Income Tax Return for AY 2019-20 due to errors discovered after the initial filing, which now indicate a higher tax liability. The user is seeking guidance on the procedure, relevant sections, and any additional payments like interest or penalties. Unfortunately, it's noted that filing an updated return for AY 2019-20 is no longer possible under normal circumstances, though corrections might be allowed in response to specific notices from the IT Department.

Kannan Iyyengar

Kannan Iyyengar (Querist)

14 March 2023 I had filed Income Tax Return for AY 2018-19 and got some refund too.

Recently, some errors in my Return has come to my notice, as a result of which I shall have pay to more tax instead of refund.

I want to file a revised Return now rectifying the earlier errors and pay the tax due.

What is the procedure ? Under which Section can I do it ? In addition to the tax due, what are the other amounts I shall have to pay (interest, penalty, etc) ?

Please guide me.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

14 March 2023 Now you cannot file ITR for AY 2018-19 under normal circumstances. If you get any notice from ITD under e-verification or scrutiny, you may file corrected ITR in its reply.

Kannan Iyyengar

Kannan Iyyengar (Querist)

15 March 2023 Thank you very much, Sir, for your kind, prompt reply.

There is a small error in my query. The Assessment Year is 2019-20, and not 2018-19.

Will you kindly review the situation and give a fresh reply ?

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

15 March 2023 Even for AY 2019-20 the answer remains same, as even updated return for the year cannot be filed now.

Message likes : 1 times

Kannan Iyyengar

Kannan Iyyengar (Querist)

15 March 2023 Thank you very much, Sir, again for your prompt reply.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

15 March 2023 You are welcome..