REGARDING UPADATED RETURN U/S 139(8A)

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This discussion clarifies the process for filing an updated return under Section 139(8A) when the original ITR-V was not submitted within 30 days. It confirms that an updated return can be filed even without verifying the earlier return. The advice suggests selecting 'no' for the previous return and making a minor adjustment to the total taxable income to ensure some tax is payable, along with including any paid penalties.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)

13 January 2024 IF INADVERTANATLY ITR-V HAS NOT BEEN SENT WITHIN 30 DAYS SO NOW UPDATED RETURN FOR FINANCIAL YEAR 2022-23 CAN BE FILED WITHOUT VERIFYING EARLIER RETURN ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

13 January 2024 Yes, updated return can be filed without veryfying earlier return.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)

26 January 2024 Whether in such return if return previously filed is to be selected to be "yes" or "no"?
and if no whether any changes is to be made in total income of assessee?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

26 January 2024 Select no.
Change the total income as Taxable income marginally and pay some tax with 25% extra then your return will be accepted.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)

27 January 2024 If the assesse has Total income of RS.474500 and already paid penalty of RS.1000 now how much of tax is required to be paid for accepting the return by department?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

27 January 2024 Increase the above income in the ITR so that some tax is payable. Include penalty challan already paid.

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