Updated itr3 under sec 139 8a how to show already refunded amt
3 months ago
Sir i had filed my itr1 on 12/07/2023 my net income was 4.53 lacs after all deductions.. I also received refund of Rs. 25040. But i realised that i had not shown my intraday trading losses around 2.12 lacs . Hence I filed revised return on 31 dec 2023..but while filing this return I by mistakenly forgot to show my salary income and return got filed with only intraday loss of 2.12 lacs. I received demand due email of rs. 25040 under sec 143 1 from income tax. Now as the due date is over I decided to file updated itr3 under section 139(8a) . My income has not changed so net payable amount is showing as zero.. In fact it is still showing refund of rs 25040 Which I have already received. It is not allowing me to file the return even if I show late fee under sec 234 f of rs 1000/-. I don't understand where to show and adjust this already received refund amount. Kindly advise.. Thanks
In the given scenario, where you initially filed an ITR1, later revised it to include intraday trading losses, and now intend to file an updated ITR3 under section 139(8a), you need to address the received demand and show the adjusted figures accurately. While filing the updated ITR3, ensure that you include all the necessary details, including salary income and intraday trading losses. If the system is not allowing you to file due to a mismatch in refund figures, it might be a technical issue. Try to resolve it through the Income Tax e-filing portal or seek assistance from the Income Tax Department's helpdesk. Clearly mention the late fee under section 234F of Rs 1000 in the appropriate section to adjust the figures accurately. If you encounter further challenges, consider consulting a tax professional for guidance on resolving the issue and ensuring a correct filing.
Thankyou
Since your situation has been complicated due to mistakes at your end and you have also received the refund hence it is suggested that you write a letter to the IT department and seek their permission to refile the returns with all inputs.
Unless this item is closed properly at their end you shall keep receiving the notices from them.
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