Comprehensive Guide to Section 140B: Taxation of Updated Returns Under the Income-Tax Act CA Jaydeep

Section 140B explains how tax is calculated when filing an updated return under Section 139(8A). It applies to both non-filers and those updating a previously filed return. Depending on when the return is updated, an additional tax of 25% or 50% is charged, along with interest and penalties. Watch this video to understand how to comply with Section 140B while minimizing extra costs!