Furnishing tax return after receiving notice u/s 148

I recently received a notice to furnish my IT returns u/s 148 for income escaping assessment AY 2018-19. The notice is valid because I had made some money trading in cryptocurrency and did not pay tax on that. Now that I have received this notice, I wish to disclose this income and pay tax on that. But I am unable to figure out HOW to file the ITR online because there is no option to refile return under that year on the portal. Should I prepare the return using some software outside and simply upload the PDF under e-proceedings?!! If I go under "File Income Tax return" option and choose the relevant AY, there is no option showing for me to file under section 148. It only shows "92CD modified return" and after "condonation of delay" under 119. Everyone advises file revised return but HOW and WHERE?

Replies (4)
Quick Summary
If you've received a notice under Section 148 for income escaping assessment, like unreported cryptocurrency trading income, you can still file your Income Tax Return (ITR). The key is to download the relevant ITR form's Excel or Java utility from the income tax department's website for the specific assessment year. Within these utilities, you'll find an option to file in response to a Section 148 notice. After completing the return, you'll generate an XML file to upload via the income tax portal.

Contact mrgstconsultancy @ gmail.com I ll help you file return
Contact taxclinictc @ gmail.com for filing of your ITR under section 148

Go to the 'downloads' section on the income tax website. Select the assessment year 2018-19. Download the relevant ITR form - excel utility. Fill in the details as per the instructions. In the excel utility option to select 'filing in response to Sec 148' is available.

You can also use the java based utility on the income tax website if you don't want to use excel utility.

You will then need to upload the X M L file after logging in the income tax portal.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register