Updated return Section 139(8A) proposed new section


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This document provides a detailed analysis of the proposed new sub-section 8A of Section 139 of the Income Tax Act, concerning updated returns. It explains the existing provisions for filing returns, the benefits and conditions of the new updated return facility, and crucially, the circumstances under which an assessee is not eligible to file. The analysis concludes that filing an updated return with additional tax may not be advisable due to the significant tax implications and the possibility of the department still reopening the case.

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Article on Updated Return U/s 139(8A) proposed new section in Finance Bil #pdf
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