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Income Tax Return Filing Deadline : If you have not been able to file the belated ITR or Revised ITR of Income Tax Return till December 31, 2022, then you do not have to worry now. You have another method through which you can deposit it. If you have missed this deadline, you have the option of filing an updated Income Tax Return (ITR-U). In this news, we are going to give you complete information.
return filing provision
The provision for filing late returns has been given under section 139(4) of the Income Tax Act. But the belated return is different from the regular return in many respects. Late filing of returns attracts additional fees under section 234F.
what is new update
The last date for filing income tax return for the financial year 2021-22 (AY 2022-23) was till December 31, 2022. If you have missed the deadline to file ITR? So you can make this work. These include both Belated ITR and Revised ITR. If you are also one of these persons who have missed the last date for filing belated or revised income tax return for FY 2021-22 (AY 2022-23) by December 31, 2022, then you need not worry Is. You still have a chance to file ITR.
What is Updated ITR (ITR-U)
The Central Government has introduced the option of filing an updated ITR (ITR-U) for individuals who have missed filing tax returns for a financial year. Earlier, a person used to file 3 types of income tax returns. In which the first is the original (filed on or before the due date), the second is the delayed (filed on or before 31st December) and the third is the revised (after the original was filed but submitted on or before 31st December).
Submit by April 1, 2023
According to ET, Ruchika Bhagat, MD of chartered accountancy firm Neeraj Bhagat & Co, says, ‘The updated income tax return can be filed only after the end of the relevant assessment year. So, if you have not filed belated ITR, you can file updated ITR from April 1, 2023. You still have time till April.
read this also- ITR Filing: File your ITR within two days, otherwise it can be a big problem
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