Related to ITR U for AY 22-23
This query is : Resolved
10 July 2023
I am salaried with TDS @ 30% (per Old Regime) along with Capital Gains ( Equity / Debt MFs ) earned during FY 21-22. No ITR has been filed for this period. Neither Original, Nor Belated. But I had made payment of Self Assessment tax, due to which tax deposited is more than my tax liability.
Now, as I am trying to file ITR U for this period ( AY 22-23 ), the Tax Advocate, whose help I am seeking, tells me that ITR U cannot be filed since refund is not allowed (as tax deposited is greater than tax liability) and that I would have to increase my tax liability by showing additional income to be able to file ITR U. I am not sure how I can increase my tax liability when I don't have any other income for this period.
Based on above, request for guidance on following queries :
1) Whether I can file ITR U ?
2) Whether any additional charges, such as penalty etc., are payable, considering that tax deposited is more than my tax liability for this period (AY 22-23) ?
Now, as I am trying to file ITR U for this period ( AY 22-23 ), the Tax Advocate, whose help I am seeking, tells me that ITR U cannot be filed since refund is not allowed (as tax deposited is greater than tax liability) and that I would have to increase my tax liability by showing additional income to be able to file ITR U. I am not sure how I can increase my tax liability when I don't have any other income for this period.
Based on above, request for guidance on following queries :
1) Whether I can file ITR U ?
2) Whether any additional charges, such as penalty etc., are payable, considering that tax deposited is more than my tax liability for this period (AY 22-23) ?
10 July 2023
1. No.
2. May be, as ITR not filed. You can file ITR u/s. 119(2)(b) after getting permission from your JCIT.
2. May be, as ITR not filed. You can file ITR u/s. 119(2)(b) after getting permission from your JCIT.
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13 July 2023
Thank You Sir, for your response.
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13 July 2023
You are welcome.
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