QUERY RELATED TO SWITCHING OFF MY OLD REGIME RETURN TO NEW REGIME IN REVISED RETURN

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This query is : Resolved

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A taxpayer filed their original return under the old tax regime and later attempted to revise it under the new regime. However, the revised return was not accepted. It's confirmed that changing your tax regime is not permitted in a revised return for the same assessment year. Consequently, deductions claimed in the original return cannot be considered if the revised return was filed under a different regime without validly switching.

Komal

Komal (Querist)
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16 March 2023 I AM A SALARIED PERSON FILED MY RETURN IN OLD REGIME IN ORIGINAL BEFORE THE DUE DATE U/S 139(1) THEN AFTER I REVISED MY RETURN IN NEW REGIME BEFORE 31.12.2022 BUT THEY HAVE NOT ACCEPTED MY REVISED RETURN IN NEW REGIME. IS IT CORRECT TO OPT FOR NEW REGIME IN REVISED RETURN.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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16 March 2023 Change of tax regime is not allowed in revised return of same assessment year.

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Komal

Komal (Querist)
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22 March 2023 Then sir they should have considered the deduction which I had claimed in my original return. They have given me intimation order under section 143(1) without considering the deduction as a result of which they have raised high demand. What should I do now to claim the deductions under old regime.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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22 March 2023 Technically your original ITR gets replaced by revised return. Revised return cannot be filed under new regime (as change of regime is not permitted in-between). Bad luck is you had not claim any deductions in revised return being filed under new regime!! so, how can they consider deductions which are not claimed in return??

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