The government introduced a new scheme in 2022 which permitted all taxpayers to file an updated return within 24 months from the end of the relevant assessment year. This was later extended to 48 mont ...

Taxpayers who haven’t filed 2021 tax returns who may be eligible for a COVID stimulus payment must file it by April 15 to claim the credit.

Introduced under Section 139(8A) of the Income Tax Act, 1961, the updated return framework allows taxpayers to declare income that was earlier under-reported, reported under the wrong head, or not ...

To encourage voluntary compliance, the Government of India introduced the ITR-U in the Finance Act 2022 and amended the ...

Updated returns, introduced under Section 139(8A) of the Income Tax Act, 1961, allow taxpayers to rectify errors or omissions in their original income tax returns or file a return if they missed the ...

Practitioners must weigh applicable professional standards and exercise due diligence in assessing whether a taxpayer claiming an employee retention credit must amend one or more income tax returns to ...