The Central Board of Direct Taxes (CBDT) vide Notification No. 48/2022 on April 29, 2022 has issued the Income-tax (Eleventh Amendment) Rules, 2022 to further amend the Income-tax Rules, 1962.
CBDT notifies Form and Manner for filing updated Income Tax return. Updated return can be filed from the assessment year 2020-21 onwards. Return shall be filed in form no. ITR-U along with applicable ITR form from ITR-1 to ITR-7.
Rule 12AC- Updated return of income:
- The return of income to be furnished by any person, eligible to file such return under the sub-section (8A) of section 139, relating to the assessment year commencing on the 1st day of April, 2020 and subsequent assessment years, shall be in the Form ITR-U and be verified in the manner indicated therein.
- The return of income referred to in sub-rule (1) shall be furnished by a person, mentioned in column (2) of the Table below in the manner specified in column (3) thereof:–
| Sl. No. | Person | Manner of furnishing return of income |
| 1 | Individual, or Hindu undivided family or a firm or limited liability partnership or an association of persons or a body of individuals, whether incorporated or not, or a local authority or an artificial juridical person in whose case accounts are required to be audited under section 44AB of the Act or a Company or a political party required to furnish a return in Form ITR-7. | Electronically under digital signature. |
| 2 | Individual, or Hindu undivided family, or firm, or limited liability partnership, or an association of persons or a body of individuals, whether incorporated or not, or a local authority or an artificial juridical person, or a person required to file a return under sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) of section 139, other than a person mentioned in column (2) of Sl. No. (1) above. | (A) Electronically under digital signature;
(B) Transmitting the data electronically in the return under electronic verification code. |
Explanation.–– For the purposes of this sub-rule, ―electronic verification code‖ means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems).
(3) The Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture and transmission of data and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing the return in the manners specified in column (3) of the Table.’
Download the official Notification with the provided link: