Hello, so after validating the first page income details,
now we will go to the second
page, the second page of ITRU, which is my dear friends,
that is Part A General 139.8
A, something like this is written here, so see, this is a
pop-up, I will show it in front
of you, increase its size a little, I think now you will be
able to see a little more
easily. We have increased its size a little, here is the
PAN name, PAN number, name, all
this will come automatically, Aadhar number will come
automatically, Assessment year 22
will come automatically, then whether returns previously
filed for this assessment year,
you, my dear friends, by filling ITRU, if you have shown
income in your previous return,
you can increase it, it is not forbidden, because the
government will say that you want
to increase the income, you want to pay tax, we will also
put additional tax on it, according
to 25-50%, there is no prohibition, you can fill it, so if
the return is filled first,
you are going to declare income for some extra government,
you are going to pay tax on it,
then say yes here, otherwise there will be no option here,
so in our case there is nothing
here, we did not fill the return, we are filling ITRU
directly, so we will take no option here,
we will select the NO option here, as soon as we do no,
many options will freeze, then
they will not need to fill, are you eligible for filing an
updated return as per the conditions
laid out in 1st, 2nd and 3rd provision to 139.8, keep yes
in this, whether you are eligible
or not, he is asking to fill ITRU, so yes of course we are
eligible, that's why we are
filling this return, and who is eligible, we have discussed
this conceptually, at the
time of conceptual discussion, reason for updating your
return, next option is reason
for updating your return, why are you filling ITRU, why are
you filling updated return
as per section 139.8a, so friends, you have to select the
option here, return previously
not filed, in our case, there are many options in this, in
our case, you have to select return
previously not filed, that we have not filled the return
previously, so we are filling ITRU
and washing our sins, one option is income not reported
correctly, income is not filled
correctly, income was less, so we are updating it and
increasing it, so we will select this
option, if that is the case, wrong head of income chosen,
you have taken wrong head in
income tax return, means salary income was shown in PGPP,
PGPP income was shown in capital
gain, capital gain was shown in house property, in any
case, if you are filling updated return
to rectify that mistake, then it will come here, next is
reduction of carried forward
loss, you want to reduce losses, I have told in conceptual
discussion, you can't increase
loss, you can reduce it by filing ITRU, government will
benefit from reducing, you will reduce
your loss, you will come in profit soon, government will
get tax soon, reduction of
unabsorbed depreciation, same thing, reduction of tax
credit, this is also beneficial for
government and wrong rate of tax, you have put less tax
rate, it should have been more,
now you are improving it, so whatever is the benefit of the
government, it is written here,
with which the government will benefit, if there is any
other reason, then there is other
option also here, select other option, we will select
first, return previously not filed,
we had not filled the return, so now we are going to fill
the return, next red marked
option is, are you filing the updated return during the
period, now they want to ask you,
that the previous year, the assessment year related to it,
you can fill the return for
2 years, so how much time has passed, up to 12 months from
the end of relevant assessment
year, see friends, I had told you one thing, if we are
filling the return of previous year
21-22, previous year 21-22, assessment year is 22-23, which
was the previous year, 21-22,
I will take you to the writing pad to explain, there is no
need to go to the writing pad to
explain, you listen, what did we learn, if you remember the
conceptual discussion, that
21-22 is our previous year, whose assessment year is 22-23,
so from where the assessment
year is ending, 31 March 2023, when will the assessment
year 22-23 end, 31 March 2023,
from there you can fill the ITREU for 2 years, 31 March
2025, so today our date is 9th May
2023, so 31 March 2023, which was the last date of the
assessment year, not even a year
has passed, not even a year has passed from there, so they
are saying up to 12 months
from the end of relevant assessment year, we are filling
the return within 12 months
from the assessment year, up to 12 months means 12 months
have not passed yet, if it
had passed, then one more option would have come here,
between 12 to 24 months from the
end of relevant assessment year, assessment year is over,
one year has passed, next year
which is available as an option, we are filling the return
in that, we can fill for 2 years
till the end of the assessment year, so one year has passed
from the end of the assessment
year, one year is left, if you are filling the return
there, then between 12 to 24 months
will come here, now we will take up to 12 months from the
end of relevant assessment
year, and then we will press the validate button on this
sheet, we will click on validate
and it is saying sheet part A gen underscore 1398A is ok,
this sheet is ok, so we have
learnt how to fill up this sheet, let's go in this clip, ok
sir.