Good news. Big Chance to file Missed ITR for AY 2020-21 and AY21-22
Updated Return can be filed from the assessment year 2020-21 onwards. Return shall be filed in form no. ITR-U along with applicable IT form from ITR-1 to ITR-7.
Return can be updated on account of below:
- Return Previously not filed
- Income not reported correctly
- wrong heads of income chosen
- Reduction of Carried forward Loss
- Reduction of Unabsorbed Depreciation
- Reduction of Tax Credit
- Wrong rate of tax
- others
CAclubindia
