Page 123 - Arthyog_FilBook_05 05 2024 (1)

Updated ITR – Immunity bearing Ambiguity C.A. Virat Atul Bhavsar, !
& 7

1. < % . ( ! / '( * 1 / + ? & 1
! . ! /& ? ( !&
! ! ! & 1 : (
+ % /& ! . ! ! . ! . N .;
+ ! N (. /& . ? ( ! ? &
! ( /& ! . % . & &
( ! / + R ' + * @ " . - . + . & "
/& 1 & . ! ? & . ! % " F !
. !& % ( ! / !& %
2. ) - ' * & /& ? ( %
!& ! 1 ? ! & & & < .
+ ? ( 1 & ? BELATED I - ' * .
+ ? - ' * & " ! ! - ' * 1 ?
! - ',* . + & " /& 1
&& REVISE ( ? I - ' * - ' * . any omission or wrong
statement ( . @ . - % " !
/& ? & & ! ! !
4 " ! !& ! & % /

3. E" & ? % . ( ! ! / ( . ! 1
& % & ? . ! ! / !& !
/& & % . ( ! 1 " ! " (
& ( . ! & % !& " . ! /&
! / + & % ( 1 % . . !
% 1 . % 0 % + ? ( % '+(* In this
backdrop, the legislature therefore felt that time limit available under the existing provision to
file revised and belated return of income is not adequate. ( & ! " ? % .
( < + =$== 1 & " - . + & "
/& ! && ! " !& ? % B& ( /&
& ! ? B& ( ' - '#+** 1 ? & " . "
! - '#+* 1 & " /& ! . = !
? & The objective of the amendment is therefore to promote voluntary
compliances by the Taxpayer and reduce potential litigation

4. ( & . 1 1 B& ( I - '#+*
. & & B& ( !& 0 C ?
. % ? % . B& (

Salient features of new scheme u/s139(8A)–"Updated ITR”
5. + & 1 . . ! . ! ?
B& ( . ( " < ! 00 ) !& +E E( ? & .
!

6. ( !& & ? ( +
. I $'= * + . I $'=-+* < . I $'=-A*
. I $'=-A+* B " ) % I -,' *' *I' * : ? ( I
- ' +* - ' A* ( ? & 1 ( ? I - ' *
. & ? ( % & ( 1 !
7. /& ? & ( 1 = ! . ! . " +T

117