139(8A) updated Return

My Tax Consultant filed  My  ITR for A.Y 2020-21 u/s 139(4) i.e. belated return and he had disclosed Total Income in the return of Rs.125580 and there was deducted of Rs.7670.he had Claimed the TDS and I have received Tds with Interest of Rs.7842 but hi didn't take my other income in the return so  Now i want to file the return U/s 139(8A) with increasing income.

My Question are

1) can i file the return u/s 139(8A)

2)Whether TDS amount will be reversed with 50% penalty which i had claimed?

3) whether i will have to pay late fees 1000 u/s 234F 

 

please answer the above

Replies (2)
Quick Summary
This discussion addresses the possibility of filing an updated belated Income Tax Return (ITR) under Section 139(8A) for the Assessment Year 2020-21. The user initially filed a belated return and now wishes to include additional income and correct TDS claims. The advice provided confirms that filing under Section 139(8A) is possible, but it will involve paying additional tax based on the regular tax and interest, with no reversal of the TDS claim. Late fees under Section 234F are not applicable in this scenario.

1. Yes.

2. Additional tax payable will be 50% of (regular tax + interest).. No question of any TDS claim now.

3. No.

If you hv received a notice under section 139(8A) it is a defective return.

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