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Itr u query

Sharath chandra (Accountant) (1227 Points)

27 January 2024

if income is below 2.5 lakhs, can we still file itr u ? the assesse has forgot to claim a small amount of tds with total income below 2.5 lakhs.

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26 Replies

sabyasachi mukherjee (27642 Points)
Replied 28 January 2024

Conditions not fulfilled

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CA Raj Doshi (Practising CA) (8939 Points)
Replied 28 January 2024

Not possible to file ITR u in this case because there has to be tax payable under ITR U which means income has to be above basic exemption limit

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RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 28 January 2024

No...
ITR U can't be file for refund.
ITR U can be file if any Tax is payable...

1 Like

sabyasachi mukherjee (27642 Points)
Replied 28 January 2024

Itr u is only for those assesses where returns hD not been filed for consecutive two years

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 28 January 2024

Hey Mr,

Please do not attend query without reading correctly...

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Sharath chandra (Accountant) (1227 Points)
Replied 28 January 2024

So can't file the return at all in this case? as time limit is over

and

no option for condonation of delay too. the system shows condonation only for late filing of itr v

Sharath chandra (Accountant) (1227 Points)
Replied 28 January 2024

Originally posted by : Sharath chandra
	So can't file the return at all in this case? as time limit is over and no option for condonation of delay too. the system shows condonation only for late filing of itr v

Even though there is no requirement to file ITR ... but it is needed for loan purposes.

CA Raj Doshi (Practising CA) (8939 Points)
Replied 28 January 2024

Show income of 251000 and file ITR with little payment

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RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 28 January 2024

Originally posted by : CA Raj Doshi
	Show income of 251000 and file ITR with little payment

I think the above said amount can't chargeable Tax...

Also minimum tax amount like 12.7k (without late fee calculation) in case assessee want to file with payment of Tax.

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RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 28 January 2024

Originally posted by : Sharath chandra

So can't file the return at all in this case? as time limit is over

- Yes You are exactly correct.

and

no option for condonation of delay too. the system shows condonation only for late filing of itr v

- Yes, May be.

An Updated Return can be filed if:

Return previously not filed
Income not reported correctly
Wrong heads of income chosen
Reduction of carried forward loss
Reduction of unabsorbed depreciation
Reduction of tax credit u/s 115JB/115JC
Wrong rate of tax

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 28 January 2024

You can't file ITR-U for refund . You have to apply for condonation of delay . On receipt of approval you file ITR and claim refund

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Sharath chandra (Accountant) (1227 Points)
Replied 28 January 2024

Originally posted by : CA Rashmi Gandhi
	You can't file ITR-U for refund . You have to apply for condonation of delay . On receipt of approval you file ITR and claim refund

How to file condonation of delay ? Offline ? There is no option to file it online for late filing of itr. It is there only for verification of itr.

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 28 January 2024

Application to be filed manually

1 Like

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 28 January 2024

After a Long time I seen You CA Rashmi Gandhi.,

Welcome Ms* CA Rashmi Gandhi...

Can You differenciate the condonation of delay for ITR U & under section 119(2)(b).

Bcoz, here we used the common name as CONDONATION DELAY REQUEST...

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