2 years, 6 months ago

Income Tax: Forgot to file the I-T Return? Know about revised, belated and updated returns

Income tax, IT department, income tax return, ITR filing- all of these terms can get confusing at at a point. Revised ITR Imagine that you hastily submitted your return before July 31, 2022, only to discover that you neglected to add some income and made a few mistakes.You can file a revised return in this situation to update your income tax return. Updated ITR The updated return idea was established by the Finance Act of 2022 to provide assessees more time to file their income tax returns. The deadline for submitting your Income Tax Return for the fiscal year 2022-23 has passed. However, you have the option to file an income tax return from the choices mentioned above if you missed out to add something while filing.

Live Mint

Discover Related