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How to File Updated Tax Returns — Save Yourself from the Income Tax Department

Original: How to File Updated Tax Returns | ఇలా చేస్తే Income TAX Department నుంచి తప్పించుకోచ్చు 👆| #tax

48.9K views · Sep 09, 2023 · 19:13 min · Watch on YouTube ↗
Takeaway

Use ITR-U (Section 139(8A)) to proactively correct missed disclosures and avoid IT-department penalties.

Summary

  • Tutorial on filing Updated Income Tax Returns (ITR-U) under Section 139(8A).
  • If you get a notice/order, authenticate it first on the Income Tax portal using your mobile.
  • Common reasons: Section 143(1) intimation, 143(2) scrutiny letter or proposed adjustments.
  • Common errors are missed Section 80D health insurance, donations, or wrong income heads — disclose voluntarily to avoid penalty.
  • Filing an updated return is the 'prevention is better than cure' option to come clean.
Income TaxITR-UUpdated ReturnSection 139(8A)80D
Original description 
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What is in for you?
00:00 Introduction
02:56 How to determine whether the notice is from the IT Department or Scamsters?
05:00 Which notice to worry and which not to worry?
06:39 When should some one file Updated IT return?
09:04 The process of Updated IT Returns