I.Tax Return for AY 2020-21

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This query is : Resolved

Quick Summary

If you missed filing your tax return for AY 2020-21, you may still be able to file an updated return by the end of March 2024. However, this is only possible if the updated return results in tax payable, not a refund or increased loss. If TDS was deducted and you're eligible to file, be aware that penalties may apply.

Keyur

Keyur (Querist)

26 March 2024 Sir/Madam

I have not filed my tax return for the fy 2020-21 at that year. Can i file my tax return as updated return??

> If tds is deducted at that year.
> If tds is not deducted at that year.

thanks in advance

CA Kushwanth AVSR

CA Kushwanth AVSR (Expert)

26 March 2024 You can file the updated return by the end of this month i.e., March 2024, however, if the updated return results in increase in loss or results in refund, then the same cannot be filed along with other conditions prescribed u/s 139(8A).

Keyur

Keyur (Querist)

26 March 2024 Original return is not filed and tds deducted of Rs.5000/- in the year 2020-21, then i can not file tax return??

CA Kushwanth AVSR

CA Kushwanth AVSR (Expert)

26 March 2024 In that case, whether the return resulting to refund or it is resulting to tax payable.? I mean at the end of the return, are you receiving refund or you need to pay tax.?
If you are receiving refund, then you cannot file, if you are paying tax, then you can file the return along with penalty

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