UPDATE RETURN U/S 139(8)

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This query is : Resolved

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This discussion clarifies whether an updated Income Tax Return (U/S 139(8)) can be filed for Assessment Year 2022-23 if the declared income is below the taxable limit. Initially, it was suggested that such returns are only permissible if there's tax payable. However, it was noted that some individuals are filing these returns below the limit by paying a Rs 1000 penalty, and in such cases, no notice is typically received as a nominal amount is paid.

raghavendra b

raghavendra b (Querist)
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25 March 2023 DEAR SIR,

CAN WE FILE INCOME TAX RETURN SHOWING BELOW TAXABLE LIMIT MEANS 499500/- IN THE UPDATED RETURN U/S 139(8A) FOR THE ASS.YEAR 2022-23. IS POSSIBLE .

THANK YOU
REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 March 2023 Not possible only in case of some tax payable such ITR can be filed

raghavendra b

raghavendra b (Querist)
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25 March 2023 THANK YOU SIR FOR YOUR KIND REPLY,

IF FILED WHAT WILL HAPPEN IN CASE FILED BELOW TAXABLE LIMIT

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 March 2023 Filing will not be allowed. Check it

raghavendra b

raghavendra b (Querist)
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25 March 2023 THANK YOU FOR YOUR REPLY SIR,

BUT IN OUR CITY WHAT HAPPING SO MANY PEOPLE ARE FILING BELOW TAXABLE LIMIT PAYING RS 1000/- PENALTY. SUCH PEOPLE WILL RECEIVE NOTICE

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 March 2023 No notice will be received in such a case as some amount is paid

raghavendra b

raghavendra b (Querist)
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25 March 2023 THANK YOUR SIR,

HERE UPDATE RETURN FILING PAYING RS 1000/- PENLATY DECLARING WITHIN 5LAKHS LIMIT. I HAVE TOLD SOME PEOPLE UPDATE RETURN CAN NOT BE FILED UNLESS IF ANY WRONGLY CALCULATED INCOME OR UNDISCLOSED INCOME OR SOME OTHER REASONS AS PER THE SECTION SAID.BUT HERE SOME PEOPLE FILED INCOME TAX RETURN U/S 139(8) BY PAYING PENLATY. SO I HAVE LITTLE BIT CONFUSED IN THIS CASE.

THANKING YOU

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 March 2023 No need for any confusion software is set like this. No problem.

raghavendra b

raghavendra b (Querist)
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25 March 2023 THANK YOU FOR YOUR IMMEDIATE REPLIES SIR,

BUT LAST ONE THING SIR SO UPDATED RETURN CAN NOT BE FILED IF ADDED INCOME TAX LIABLITY.

THANKING YOU SIR,

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 March 2023 Updated return can't be filed if there is no added tax liability.

raghavendra b

raghavendra b (Querist)
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25 March 2023 THANK YOU SIR YOUR PATIENCE REPLIES,

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 March 2023 You are welcome....
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