March 31 is the last date to file ITR-U for AY 2021-22; If you miss, be ready to pay up to 200% of the income tax evaded

Income tax updated return: March 31, 2024 is the last date to file an updated income tax return (ITR-U) for AY 2021-22 (FY 2020-21). Do note that ITR-U may be used to fix errors like under-reporting or misreporting of income, or any other errors in the previously filed ITR. Once the deadline to file ITR-U is over and you are caught evading taxes penalty up to 200% of the tax evaded can be levied.

from Tax-Wealth-Economic Times https://ift.tt/2puGnCh