This discussion clarifies the eligibility for filing an updated tax return (ITR U). It addresses whether a pending or completed assessment, particularly one with a tax demand, prevents filing. The conversation also touches upon claiming deductions under Chapter VIA when disclosing additional income via an updated return, noting that some tax payable is generally required.
29 August 2022
If assessment is pending or completed then assessee is not eligible for filing updated return.
If assessee received intimation having some demand then can it be said assessment is pending or completed and assessee is not eligible for filing updated return?
If assessee file updated return and disclose some additional income which are eligible for deduction under chapter VI A, can assessee claim it by disclosing additional income in updated return?