The Central Board of Direct Taxes (CBDT) has asked all the online gamers to file ITR-U if they are earning money from online gaming
Online gaming is on the boom and many of us are earning a good amount of money from it.
ITR-U named Income tax report Updates is used for money earned from gaming, lottery and betting etc
ITR-U was introduced by our Finance Minster in budget 2022 to correct mistake of previous ITR
ITR-U is filed under section 139(8A) of the Income-tax Act, 1961
ITR-U is really helpful for those who wants to make changes to their ITR or by chance filed their ITR wrong
You need to specify a reason while filing ITR-U why you are filing it such as return previously not filed or income not reported correctly or any other