Itr u for assessment year 2022-23

can I file itr u for assessment year 2022-23 on 1st April 23?
Replies (4)
Quick Summary
This discussion explores the possibility of filing an updated Income Tax Return (ITR-U) for the Assessment Year (AY) 2022-23, specifically for the financial year 2021-22. The user, who has not filed an original or belated return for this period and has paid self-assessment tax exceeding their liability, is seeking guidance on whether they can still file an ITR-U. They are also inquiring about potential penalties or additional charges in this scenario.

Yes you can .
Thanks Akarsh ji
Welcome 🙂

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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