ITR-U for AY21-22

This query is : Resolved

Quick Summary

Discussion is about filing ITR-U for AY 2021-22 when income is below 2.5 lakh. User considers inflating income to file updated return with penalty for compliance record. Clarification given: ITR-U is only for correcting real income errors, not for artificial filing or record building.

Shantanu Bose

Shantanu Bose (Querist)
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23 March 2026 Dear Sir,
I want to file updated ITR-3 Sfor AY 21-22 but my total income well below 250000. I think I can still file with 1000 penalty by showing increased income of more than 250000 but less than 500000 by 31st March,2026. My meagre income was as follows:

Savings bank interest: 2700
Equity STCG: 3000
Speculative income: 70

Can some esteemed CA or learned person from this forum help me to advice which type of income can I show in ITR in IFOS schedule which isn't getting reflected in AIS but to file to keep clean track records of ITR filing in the eyes of ITD?
Thanks a lot

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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23 March 2026 • You should NOT file ITR-U by inflating income
• Your income is below ₹2.5 lakh → no filing obligation
• ITR-U is only for correcting real missed income, not for record creation
• Best approach: start regular voluntary filing from current years

Shantanu Bose

Shantanu Bose (Querist)
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24 March 2026 Okay Thank you very much but can you please tell me what's wrong or why it's alarming or what harm it can cause ?
Thank you

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