ITR-U for AY 22-23

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This discussion addresses the consequences of not filing an updated Income Tax Return (ITR-U) for Assessment Year 22-23, even when net tax liability is nil. While severe penalties like imprisonment are unlikely due to zero tax liability, the individual may still face late filing fees under Section 234F and administrative hassles. It's advisable to file the ITR-U to avoid potential notices from the Income Tax Department.

Shantanu Bose

Shantanu Bose (Querist)

09 March 2025 I didn't file my ITR for AY 22-23 although my gross income was above basic exemption limit bit net tax liability was nil. Now I've received sms and email from CBDT to file ITR-U for AY 22-23. My question is what consequences I might face if I don't file ITR by 31/03/25 ?
Thanks

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

10 March 2025 Under Section 234F, a late filing fee of Rs 1,000 applies if your income is up to Rs 5 lakh, and Rs 5,000 if it exceeds Rs 5 lakh & interest at 1% per month on the outstanding tax amount is charged under Section 234A.

Shantanu Bose

Shantanu Bose (Querist)

10 March 2025 Thanks sir,but I already know this,I wanted to know what extreme consequences I may have to face if I don't file ITR despite section 234F and sms/email.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

10 March 2025 If there is no additional tax liability, the question of penalty may not arise.

Shantanu Bose

Shantanu Bose (Querist)

11 March 2025 Sorry to bother you again sir,but you ain't getting my point, I want to know what worst consequences may happen if I don't file ITR-U at all for AY 22-23 where gross total income is Rs. 433000/ but net tax liability is 0,
Thanks

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

11 March 2025 You might receive notices from the IT Department for non-filing, which can be inconvenient and may require you to justify why you didn't file an ITR U. While the worst consequences like imprisonment are unlikely with a zero net tax liability, you may still face late filing fees and other administrative hassles.

Shantanu Bose

Shantanu Bose (Querist)

11 March 2025 Thanks a lot sir. Had I not received any sms/email,then also I should have filed
ITR-U or I could have skipped ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

11 March 2025 Not advisable to skip any ITR, specifically when you are liable to file under sec. 139(1) IT act.

Shantanu Bose

Shantanu Bose (Querist)

12 March 2025 Thank you sir very much for helping

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

12 March 2025 You are welcome..