- April 29, 2022
- Posted by: CA Sudha G. Bhushan
- Category: Finance & accounting
No Comments
The CBDT on April 29, 2022 vide Notification no. 48-2022 has issued the Income-tax (Eleventh Amendment) Rules, 2022 to further
amend the Income-tax Rules, 1962. With this amendment CBDT inserted Income tax rule 12AC describing the manner for filing
updated return of income, the updated return of income to be furnished by any person relating to the assessment year
commencing with effect from 1 April 2020 (i.e., Assessment Year 2020-21 onwards) and subsequent assessment years. The tax return
shall be filed in Form ITR-U and be verified in the manner indicated therein.
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