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ITR Filling for last 2 year

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Account Knowledge

7 Points Posted on 15 February 2023

Hello Everyone

Can We file the income tax return from last 2 year
2020-2021 and 2021-2022 now?

Replies (5)

Quick Summary

Yes, it is possible to file Income Tax Returns (ITR) for the financial years 2020-21 and 2021-22, even though the original due dates have passed. You can file an 'Updated Return' under Section 139(8A) of the Income Tax Act, provided there is no refund claim and your income exceeds £2.5 lakhs. If tax is payable, you'll need to pay 125% of the tax amount. In cases involving a refund, or if you receive a notice under Section 147/148, alternative procedures may apply.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212441 Points Posted on 15 February 2023

Yes, ITR for FY 2020-21 & FY 2021-22 can be filed u/s. 139(8A) of IT act, provided there is no refund claim.

Otherwise, it can be filed u/s. 119(2)(b) of the act.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 15 February 2023

Due date is over. Hence original return can't be filed under section 139(1).

However Updated Return can be filed if there is tax liability

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 15 February 2023

You can file ITR u/s 139(8A) if income is above 2.5 lakhs.

Also in case of tax payable you have to pay 125% of tax amount.

In case of refund, you can't opt for return u/s 139(8A) because refund will not be allowed in case of return u/s 139(8A).