While examining high refund cases, the Income Tax Department, Tamil Nadu & Puducherry, has noticed that some taxpayers have claimed unusually large deductions u/s 80G (donations to Funds, Charitable institutions, etc.), 80E (interest on education loan) & 80GGC (contributions given to political parties) in their returns of income for A.Ys. 2021-22, 2022-23 & 2023-24. In certain cases, the taxpayers have claimed total deduction in excess of 80% of their Gross Total Income, which appears improbable.

During inquiries made with such taxpayers, many were not able to provide evidence to prove the genuineness of the deductions claimed by them in their returns of income.

In this context, it is informed that from 1.4.2022, even after expiry of due dates for filing regular and belated returns, the taxpayers are allowed to file updated return on payment of some additional tax as provided in section 139(8A) of the Income-tax Act. Under this provision, the taxpayer can correct errors of omission or commission within two years from the end of the relevant assessment year. It is brought to the notice of all that if any errors have been committed while filing return of income, the same can be rectified by filing updated return (ITR-U) wherever found necessary by the taxpayer.

Last date for filing updated return (ITR-U) for A.Y. 2021-22 (i.e. for F.Y. 2020-21) is 31.03.2024.

 

AD/KRS

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