[ad_1] Through CBDT NN. 48/2022 dated 29.04.2022 notified ITR-U and Rule 12AC for filing updated return u/s 139(8A) relating to AY2020-21 and subsequent AYs. Further, ITR-U has to be chosen by the eligible person as the reason for updating ITR from the following- Return not filed earlier, Income not reported correctly Wrong head of income or chosen tax rate, carry forward loss or unabsorbed depreciation or reduction in tax credit under section 115JB/115JC other Also, if the filing of updated ITR leads to further loss or reduction in unabsorbed depreciation…
Sunday, July 13, 2025
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