INVALID RETURN FILLED AS UPDATED RETURN

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This query is : Resolved

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If you've mistakenly filed an invalid Income Tax Return (ITR) for AY 23-24 that wasn't verified, you can file an updated return (ITR-U). However, it's crucial to note that an updated return can only be filed if tax is paid. If your income is less than 5 lakhs and no tax is due, you'll only need to pay a £1000 late fee, but filing this way might be considered a defective return. Seek professional advice to ensure correct procedure.

MALAY DAS

MALAY DAS (Querist)

04 August 2024 RESPECTED SIR
FILLED ITR FOR AY 23-24 IS INVALID DUE TO NON VERIFICATION BY MISTAKE. NOW CAN FILLED UPDATED RETURN ITR U , IF YES NEED FILL RECEIPT NO AND DATE OF INVALID RETURN FILLED IN UPDATED RETURN? THERE IS NO REFUND ISSUE. PLEASE ADVICE THANKS .....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

04 August 2024 Yes, no need to fill such details as it will be considered as return not filed.
You have to pay 25% extra tax.

MALAY DAS

MALAY DAS (Querist)

05 August 2024 THANKS FOR REPLIES SIR... BUT INCOME LESS THEN 5 LAKHS AND NO TAX . ONLY 1000 NEED PAID AS LATE FEE . AND CAN I CHOOSE REASON FOR FILING - THAT PREVIOUSLY NOT FILLED . PLEASE ADVICE

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

05 August 2024 If you file updated return with 1000 late fees it will be considered as defective return.
Updated can be filed only with tax payment.

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