Bombay High Court: ‘GIRNAR’ a Well Known Trademark in India  ||  Kerala HC: Criminal Courts of District Judiciary Cannot Recall their Earlier Orders  ||  Madras HC: Only ‘Preponderance of Probability’ Required in Disciplinary Proceedings  ||  Raj HC: Non-Disclosure of Information Wasn’t a Ground for Disqualification Before 2015 Amendment Act  ||  Bom. HC: Workers in Statutory Canteens are Principal Employer’s Employees  ||  Supreme Court: NCLAT Cannot Use its ‘Inherent Powers’ to Subvert Legal Provisions  ||  Supreme Court: NCLAT Cannot Use its ‘Inherent Powers’ to Subvert Legal Provisions  ||  SC Refuses to Mark Presence of Advocate Who Did Not Argue the Matter  ||  SC Sets Aside HC’s Decision to Accept Aadhaar Card as a Proof of Date of Birth  ||  SC Permits Candidate with Blindness to Attend Interview for Selection of Civil Judges in Rajasthan    

Last date for filing of updated returns (ITR-U) for A.Y. 2021-22 (i.e. for F.Y. 2020-21) is 31.03.2024- (Press Information Bureau) (04 Mar 2024)

MANU/PIBU/0224/2024

Direct Taxation

The Income Tax Department receives information of specified financial transactions of taxpayers from various sources. To increase transparency and to promote voluntary tax compliance, this information is reflected in the Annual Information Statement (AIS) module and is available to the taxpayer for viewing.

In some cases of Income Tax Returns (ITRs) filed for A.Y. 2021-22 (F.Y. 2020-21), a 'mismatch' has been identified, between the information filed in the ITR vis-à-vis information of specified financial transactions, as available with the Department. In cases where ITRs for A.Y. 2021-22 have not been filed and, the Department is in possession of information of specified high value financial transactions, the same also needs to be examined.

Accordingly, as part of the e-Verification Scheme-2021, the Department is in the process of sending communication(s) to the taxpayers for the mismatch in information pertaining to A.Y. 2021-22 (F.Y. 2020-21). This information is being communicated to the taxpayers through their e-mail accounts as registered with the Income Tax Department. Vide the said communication, the Department is urging taxpayers, to view their AIS through the e-filing portal and file updated ITRs (ITR-U), wherever found necessary by the taxpayer. Eligible non-filers can also submit updated returns (ITR-U) u/s 139(8A) of the Income-tax Act, 1961.

Last date for filing of updated returns (ITR-U) for A.Y. 2021-22 (i.e. for F.Y. 2020-21) is 31.03.2024.

Tags : SUBMISSION   UPDATED ITRS   FINANCIAL TRANSACTIONS  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved