Income Tax Return u/s 139(8A)
Suresh Jadhav (students) (43 Points)
24 August 2022
Can we file updated return below Taxable income i.e - 2,50,000
2 Replies
Mahesh Shah
(2328 Points)
Replied 24 August 2022
Updated return is ment to be filed only for taxable income which would enhance the tax liability only
Sai Allu
(754 Points)
Replied 24 August 2022
The individual must file an ITR if the sum of their professional gross revenues for the preceding year exceeded Rs 10 lakh. A tax return for the year must be filed if TDS or TCS totaled Rs 25,000 or higher. This rule will apply to senior citizens if their combined TDS or TCS is Rs 50,000 or greater each fiscal year.
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