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Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The notification introduces the Income-tax (Nineteenth Amendment) Rules, 2025, amending the Income-tax Rules, 1962. The amendment replaces Form ITR-U in Appendix-II, creating a new updated return form for taxpayers to update their income within 48 months from the end of the relevant assessment year. The form allows taxpayers to correct previously filed returns, report additional income, and pay additional tax with varying penalty rates based on the timing of the updated return filing.
The notification introduces the Income-tax (Nineteenth Amendment) Rules, 2025, amending the Income-tax Rules, 1962. The amendment replaces Form ITR-U in Appendix-II, creating a new updated return form for taxpayers to update their income within 48 months from the end of the relevant assessment year. The form allows taxpayers to correct previously filed returns, report additional income, and pay additional tax with varying penalty rates based on the timing of the updated return filing.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
