Updated Return Eligibility and Deduction under Chapter VIA


This query is : Resolved 

Quick Summary
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?

29 August 2022 Assessee is eligible to file ITR U as assessment is completed.
Yes, but some tax should be payable.

29 August 2022 Thank You for quick response.

One thing not clear:
Provision:
If assessment is pending or completed then assessee is not eligible for filing updated return.

Fact:
assessee received intimation having some demand

Query:
can it be said assessment is completed

29 August 2022 Yes, it may be taken as assessment completed.
Assessment is completed ITR U can be filed.

29 August 2022 But sir it is clearly given in the provision that if assessment is completed then assessee is not eligible for filing ITR U

29 August 2022 Assessment is under process only ITR U can't be filed.
Check it again.


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