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MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 29th April, 2022
G.S.R. 325(E).—In exercise of the powers conferred by sub-section (8A) of section 139 read with section
295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules
further to amend Income-tax Rules, 1962, namely:-
1.
Short title and commencement.—(1) These rules may be called the Income-tax (Eleventh Amendment)
Rules, 2022.
(2) They shall come into force from the date of their publication in the Official Gazette.
2.
In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), after rule 12AB, the following
rule shall be inserted, namely,––
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THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
‗12AC. Updated return of income.- (1) The return of income to be furnished by any person, eligible to file such
return under the sub-section (8A) of section 139, relating to the assessment year commencing on the 1st day of April,
2020 and subsequent assessment years, shall be in the Form ITR-U and be verified in the manner indicated therein.
(2) The return of income referred to in sub-rule (1) shall be furnished by a person, mentioned in column (2) of the
Table below in the manner specified in column (3) thereof:––
TABLE
Sl. No.
Person
Manner of furnishing return of income
(1)
(2)
(3)
1.
Individual, or Hindu undivided family or
a firm or limited liability partnership or
an association of persons or a body of
individuals, whether incorporated or not,
or a local authority or an artificial
juridical person in whose case accounts
are required to be audited under section
44AB of the Act or a Company or a
political party required to furnish a return
in Form ITR-7.
Electronically under digital signature.
2.
Individual, or Hindu undivided family, or
firm, or limited liability partnership, or
an association of persons or a body of
individuals, whether incorporated or not,
or a local authority or an artificial
juridical person, or a person required to
file a return under sub-section (4A) or
sub-section (4B) or sub-section (4C) or
sub-section (4D) of section 139, other
than a person mentioned in column (2) of
Sl. No. (1) above.
(A) Electronically under digital signature;
(B) Transmitting the data electronically in the return
under electronic verification code.
Explanation.–– For the purposes of this sub-rule, ―electronic verification code‖ means a code generated for the
purpose of electronic verification of the person furnishing the return of income as per the data structure and standards
specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems).
(3) The Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems) shall
specify the procedures, formats and standards for ensuring secure capture and transmission of data and shall also be
responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing
the return in the manners specified in column (3) of the Table.’.
3.
In the principal rules, in Appendix-II, after the ITR-Ack, the following Form ITR-U (ITR for updated return)
shall be inserted, namely:—
‗FORM
ITR-U
INDIAN INCOME TAX UPDATED RETURN
[For persons to update income within twenty-four months from the end of the relevant
assessment year]
(Refer instructions for eligibility)
(Please see rule 12AC of the Income-tax Rules, 1962)
PART A GENERAL INFORMATION – 139(8A)
(A1)
PAN
(A2) Name (A3) Aadhaar Number (12 digits)/Aadhaar Enrolment Id (28 digits)
(If eligible for Aadhaar No.)
[भाग II—खण् ड 3(i)]
भारत का राजपत्र : ऄसाधारण
7
(A4) Assessment Year
[Please see instruction]
(A5) whether return previously
filed for this assessment year?
Yes No
(A6) If yes,
Whether filed u/s 139(1) Others
(A7) If applicable, enter form filed,
Acknowledgement no. or Receipt
No. and Date of filing original
return (DD/MM/YYYY)
(Please select
ITR type
from
dropdown)
Ack no
and date
of filing
/ /
(A8) Are you eligible for filing an updated return as per the conditions laid out in first, second and third
provisos to section 139(8A)?
Yes No
(A9) Please choose the ITR form for updating your income (ITRs 1-7 to be selected from drop-down and
filled as per the details made available by e-filing utility – see instruction)
(A10) Reasons for updating your income:
Return previously not filed
Income not reported correctly
Wrong heads of income chosen
Reduction of carried forward loss
Reduction of unabsorbed depreciation
Reduction of tax credit u/s 115JB/115JC
Wrong rate of tax
Others
(A11) Are you filing the updated return during the period upto 12 months from the end of the relevant
assessment year between 12 to 24 months from the end of the relevant assessment year
(A12) (a) Are you filing the updated return to reduce carried forward loss or unabsorbed depreciation or tax
credit? Yes No
(b) If yes, please specify the assessment years where carried forward loss or unabsorbed depreciation or tax
credit is being affected because of this updated return. (Please select from drop down menu)
Whether revised return has been filed for the AY in (b) above Yes No
Whether updated return has been filed for the AY in (b) above Yes No
PART B – ATI COMPUTATION OF TOTAL UPDATED INCOME AND TAX PAYABLE
1.
A
Head of income under which additional income is being returned as per Updated
Return
Amount in Rs
Head of income (If yes, Please specify additional income)
a
Income from Salary
b
Income from House Property
c
Income from Business or Profession
d
Income from Capital gains
e
Income from other Sources
f.
Total additional income (a+b+c+d+e)
B.
Total income as per last valid return (only in cases where the Income Tax
Return has previously been filed)
2.
Total income as per Part B-TI (Please see instruction)
3.
Amount payable, if any (To be taken from the ―Amount payable‖ of Part B-TTI
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THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
of the updated ITR) (Please see instruction)
4.
Amount refundable, if any (To be taken from ―Refund‖ of Part B-TTI of the
updated ITR) (Please see instruction)
5.
Amount payable on the basis of last valid return (only in applicable cases)
6.
(i) Refund claimed as per last valid return, if any (Please see instruction)
(ii) Total Refund issued as per last valid return, if any (including interest u/s
244A received) (Please see instruction)
7.
Fee for default in furnishing return of income u/s 234F
8.
Regular Assessment Tax, if any (in applicable cases)
9.
Aggregate liability on additional income,
(i) in case refund has been issued [3 + 6ii- (5 + 8)])
(ii) in case refund has not been issued [3 + 6i – (5+8)]
10.
Additional income-tax liability on updated income [25% or 50% of (9-7)]
11.
Net amount payable (9+10)
12.
Tax paid u/s 140B
13.
Tax due (11-12)
15. Relief u/s 89 which is not claimed in earlier return [relief for the same is not to be
allowed under section 140B(2)]
Rs.
14.
TAX PAYMENTS (ONLY as per Updated Return)
A
Details of payments of tax on updated return u/s 140B
TAX PAID U/S 140B
Sl No
BSR Code
Date of Deposit
(DD/MM/YYYY)
Serial Number
of Challan
Amount (Rs)
(1)
(2)
(3)
(4)
(5)
i
ii
iii
iv
NOTE
►
Enter the totals of tax paid u/s 140B at Sl. No.11 of Part B-ATI
TAX PAYMENTS
B
Details of payments of Advance Tax / Self-Assessment Tax / Regular Assessment Tax, credit for
which has not been claimed in the earlier return (credit for the same is not to be allowed again
under section 140B(2) )
ADVANCE/SELF ASSESSMENT/
REGULAR ASSESSMENT TAX
Sl No
BSR Code
Date of Deposit
(DD/MM/YYYY)
Serial Number
of Challan
Amount (Rs)
(1)
(2)
(3)
(4)
(5)
i
ii
iii
iv
NOTE
►
Credit for above is not to be allowed again under section 140B(2)
[भाग II—खण् ड 3(i)]
भारत का राजपत्र : ऄसाधारण
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VERIFICATION
I, son/ daughter of solemnly declare that to the best of my knowledge and
belief, the information given in the return is correct and complete and is in accordance with the provisions of the
Income-tax Act, 1961. I further declare that I am making this return in my capacity as ___________(drop down to
be provided in e-filing utility) and I am also competent to make this return and verify it. I am holding permanent
account number .(Please see instruction).
Date: Signature:‘.
[Notification No. 48/2022/F. No. 370142/18/2022-TPL(Part-1)]
SHEFALI SINGH, Under Secy, Tax Policy and Legislation
Note: The principal rules were published vide notification S.O. 969(E), dated the 26th March, 1962 and last amended
vide notification GSR 309(E), dated the 22nd April, 2022.
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and Published by the Controller of Publications, Delhi-110054.
