ITR U Filing - Reporting of Refund Claimed in Original ITR while filing ITR U

[PRIYACHARAN SR]

Querry Related to ITR U Filing AY 23-24

Facts:

1) Refund Claimed in Original ITR - Rs. 40,000

2) Tax payable as per ITR-U - Rs. 10,000

Querry

While Filing ITR U, There is a column in ITR U, to report Refund claimed as per Original ITR.

Assesee hasn't recd refund of Rs. 40,000 till date, claimed in original ITR.

Should we report Refund claimed data in ITR U?

If i Report refund claimed data in ITR-U, the tax payable is mounts upto Rs. 50,000 (40,000+10,000).

Please guide.

AI Summary

Report Refund in Updated ITR-U for 2023-24 Despite Pending Original; Pay Tax, Await Excess Refund. A user inquired about reporting a refund claimed in the original income tax return (ITR) while filing an updated ITR (ITR-U) for the assessment year 2023-24. The original ITR claimed a refund of Rs. 40,000, which has not been received, and the tax payable as per ITR-U is Rs. 10,000. The concern was whether to report the refund in ITR-U, as doing so would increase the tax payable to Rs. 50,000. The response advised reporting the refund in ITR-U and paying the tax, with the expectation that any excess amount would be refunded.