(This article has been authored by Abhishek Soni, Co - founder & CEO of Tax2win, a Fisdom company. If assessment/reassessment/revision/re-computation is pending or completedĨ) If your taxable income is below INR 2,50,000 (i.e., below the basic exemption limit)ĩ)If your additional tax liability is NIL There are as follows:ģ) If an updated return is minimising income tax liability from the return filed earlierĤ) An I-T survey has been conducted under Section 133 Aĥ) An I-T search has been conducted under Section 132Ħ) The person falls under the Prevention of Money Laundering Act or Black Money (Undisclosed Foreign Income and Asset) and Imposition of Tax Act or Benami Property Transactions Act or Smugglers and Foreign Exchange Manipulators Actħ)Once you are done filing an updated return for a financial year, a revised updated return for the same year cannot be filed again. The Income Tax department has notified 7 various forms i.e.

However, there are some cases in which individuals will not be able to file updated returns. Income Tax Return (ITR) is a form in which the taxpayers file information about his income earned and tax applicable to the income tax department.

Itr file download