| Question And Answer | |
|---|---|
| Subject: | ITR U |
| Category: | Income-Tax |
| Querist: | BKS |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Black Money, Black money Act, return |
| Date: | August 9, 2022 |
Can one opt for filing new ITR U after notice under Black Money Act is already served?
If income pertains to AY 16/17 but BMA notice is served in AY 21/22, what will be the year for which ITR u can be filed ?
As per clause (c) of the third proviso to section 139(8A) of the Income-tax Act, 1961, no updated return shall be furnished by any person for the relevant assessment year, where, the Assessing Officer has information in respect of such person for the relevant assessment year in his possession under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015) and the same has been communicated to the assessee, prior to the date of furnishing of return under this subsection.
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