Whether updated return is furnishing after the due date of filing the return under (section 139 (4)/ (5)) and within 12 months from the end of assessment year. Section 139 (8A) of Income Tax Act has emerged as a significant provision for taxpayers in India. This section allows individuals to file updated income tax returns (ITR-U) even after the regular filing deadline has passed. Finance Bill 2022 has proposed a new sub-section 8 (A) in section 139 for furnishing the updated return. Section 139 (8A) of the Income Tax Act, 1961, provides taxpayers the opportunity to furnish an updated return for a specific assessment year within 24 months from the end of the relevant assessment year.
