DEDUCTION IN ITR U

This discussion clarifies whether deductions previously claimed in an original tax return can be included when filing an updated return (ITR-U) for AY 2021-22. It confirms that such deductions are permissible. The conversation also addresses potential penalties, noting that if net income falls below £5 lakh, only a £1000 late fee under Section 234F applies, with no additional taxes. Finally, it touches upon the necessity of revising a tax audit report if the original filing was under Section 44AB(e) before submitting the ITR-U.