Received mail regarding e campaign for high value transaction dor AY 23-24. I Received 8 lacs 85 thousand rupees as maturity gain from life insurance which I thought taxfree so showed in exempted income. But came to know that all life insurance gains are not taxree. Now I Received mail and sent response that the information is correct in e campaign. Should I file updated return or should I wait?
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E campaign for high value transaction
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You need to file an updated return, but it will be taxable only if TDS is deducted from it. DM me if you have any questions.
Thanks for your reply. Yes TDS was deducted.
If you need any help in filing an updated return, then please check your inbox
You need to file Updated Return u/s 139(8A), otherwise, you may get notice u/s 148A of the Income Tax Act.
Sec 139(8a) is the last resort .
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