Updated Return and Refund

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1 Points Posted on 20 March 2023

I submitted ITR for the AY 2021-22 and got a refund of around 49000 rupees. However, I realise now that I have made several mistakes in it. I deserved no refund. Now, I want to file updated ITR. 

How do I show that calculations? The refund, the TDS etc. And do I need to choose within 12 months or 12 to 24 months option?

Thanks 

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On 20 March 2023 at 08:09 Report
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Quick Summary
This discussion addresses how to file an updated Income Tax Return (ITR-U) after discovering mistakes in a previously filed return for AY 2021-22. The user received a refund but now believes they were not entitled to it. Advice suggests selecting the 'within 12 months' option for filing the updated return and notes that additional tax will be payable. Professional consultancy is recommended for accurate calculations of refunds and TDS, with a deadline of 31.03.2023 for filing.

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Chartered Accountant
1005 Points Posted on 20 March 2023

You have to choose the option- within 12 months. Further, additional tax shall also be payable.

For calculations, it is suggested to obtain paid consultancy from any professional.

In case of any further queries, kindly mail me at casoravgupta @ gmail.com

Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)

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On 20 March 2023 at 10:51
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Practising CA
8954 Points Posted on 21 March 2023
You must file ITR U before 31.03.2023

Connect on raj @ rcdco.in
CA. Raj Doshi
R C D & Co.
Chartered Accountants
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On 21 March 2023 at 00:35

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