ITR U ay 22-23

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492 Points Posted on 27 April 2023
Trying to file updated return of non resident for ay 22-23
he has income less than 2.5 lacs. original return not filed by him earlier.
1. can we file the return just by paying 234f penalty or do we need to offer additional income?
2. Because while filling the form ITR2 234f is not getting auto populated. only if additional income offered, then only tax and 234f getting auto populated.

SO please clarify only with paying 234F penalty can we file UPDARED return? is it possible?
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On 27 April 2023 at 13:50 Report
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Quick Summary
This discussion explores the conditions for filing an updated Income Tax Return (ITR-U) for Assessment Year 2022-23. A key question is whether an updated return can be filed solely by paying the Section 234F penalty when income is below the taxable threshold and no original return was filed. Participants debate whether an updated return is permissible only when there's a tax liability or underreported income, and if it's possible to file when tax already paid exceeds the liability, potentially requiring the declaration of additional income.

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2498 Points Posted on 27 April 2023
ITR u to be filed only if tax is payable.....on 2.5 as u have described....is not taxable....so ITR is not getting auto populated
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On 27 April 2023 at 16:46
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492 Points Posted on 27 April 2023
Ok. thank your for the reply
in case of resident individual, rebate is there upto 5 lacs. so cn we file itr u for income from 2.5 to 5 lacs? no tax only 234f will be there. pls confirm
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On 27 April 2023 at 19:03
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2498 Points Posted on 27 April 2023

ITR u to be filed ONLY in case of tax liability or missed/ underreported income .... please understand this concept

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On 27 April 2023 at 20:27
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Profession
28271 Points Posted on 28 April 2023
Yes you can file no need to pay any penalty.
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On 28 April 2023 at 10:27
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Salaried
36 Points Posted on 10 July 2023

My query is for the same period / FY 21-22 (AY 22-23). I am salaried with TDS @ 30% (per Old Regime) along with Capital Gains ( Equity / Debt MFs ) earned during FY 21-22.                         

No ITR has been filed for this period. Neither Original, Nor Belated. But I had made payment of Self Assessment tax, due to which tax deposited is more than my tax liability.

Now, as I am trying to file ITR U for this period ( AY 22-23 ), the Tax Advocate, whose help I am seeking, tells me that ITR U cannot be filed since refund is not allowed (as tax deposited is greater than tax liability) and that I would have to increase my tax liability by showing additional income to be able to file ITR U.  I am not sure how I can increase my tax liability when I don't have any other income for this period.

Based on above, request for guidance on following queries :  1) Whether I can file ITR U  ?     2) Whether any additional charges, such as penalty etc., are payable, considering that tax deposited is more than my tax liability for this period (AY 22-23) ?

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On 10 July 2023 at 17:23

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