banner_ad

Updated return Penalty for AY 22-23

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 January 2023 Hi sir,
My question is
If assessee files updated return ( U/S 139(8A))for AY 2022-23 what's the penalty.
1. Filing on or before 31-03-2023
2. Filing on or before 31-03-2024
3. Filing on or before 31-03-2025
Thank you sir
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
23 January 2023 1. Not possible to file.
2. 25% on additional tax liability
3. 50% on additional tax liability.
In addition to above, penalty u/s. 234(F), if return was not filed earlier.
Profile Image

subbu appala

Profile Image

subbu appala (Querist)
23 January 2023 While calculating additional tax liability any interest will apply on additional tax amount
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
23 January 2023 No. Tax liability as per income tax act only. Deduct taxes already paid. That will be additional tax liability. Now penalty over it, be 25% or 50% extra.
Profile Image

subbu appala

Profile Image

subbu appala (Querist)
24 January 2023 Thank you sir for your replies
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
24 January 2023 Most welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details