Filing of Updated return

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This discussion explores whether individuals can select the new tax regime when filing an updated tax return, particularly if they haven't filed previously. The consensus is that it's generally possible. However, there are exceptions, such as when dealing with income under the head 'Profits and Gains from Business or Profession' if the new regime wasn't chosen in prior years.

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(Querist)
22 February 2023 Can We opt new tax regime for updated return where no return of income filed
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 February 2023 Yes, you can opt for it.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
22 February 2023 Agree, but not possible in case of having income u/h. PGBP where the assessee had not opted new regime in any earlier year.
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