Respected sir/madam, At my client ITR some income are omitted (not disclose) in ITR of AY 23-24. Of this sec 143 (1) are issued and refund amount also credited to bank. Can I revised this ITR or We can File updated Return.
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Quick Summary
This discussion addresses how to handle omitted income in an Income Tax Return (ITR) for Assessment Year 23-24, especially after a Section 143(1) notice has been issued and a refund credited. It confirms that a revised ITR can be filed after paying the additional tax due. If the revised return results in no refund or a demand, the taxpayer will need to pay the outstanding amount with applicable interest.