Regarding 10IC fiiling


This query is : Resolved 

Quick Summary
A taxpayer is facing a significant tax demand for AY 2021-22 after their consultant opted for Section 115BAAA without filing the mandatory Form 10IC. Form 10IC is required to opt for the new tax regime and is generally filed only once. Since revising the return is not possible, the advice suggests checking if a rectification is feasible to claim deductions under the old regime. If not, paying the demand may be the only option. The user also inquired about the eligibility and acceptance of Form 10IC for AY 2020-21, with the inference being that it's filed once and acceptance can be checked via the assessment order.

16 December 2022 We don't file 10IC for A.Y 2021-22, but my consultant opted 115BAAA sectiion at the time filing.
for this reason huge amount demand by I.T department.
What should we do against this.

16 December 2022 To opt for new tax regime, the filing of form 10IC is mandatory, otherwise it is not eligible.
Now it is not possible to revise the return for AY 2021-22.
Check if rectification is possible to claim any deduction, which were available under old regime.
As such no other option, but to pay the demand.

16 December 2022 But we have have 10 IC filed on 28th oct 2020 for F.Y 2019-20 & susequent year. Iss it manditory for file in every year?

16 December 2022 Whether the filing of form 10IC was eligible for AY 2020-21?
No. It mean it it was not accepted...

16 December 2022 WE HAVE SUBMITTED THE FORM 10IC AND WE HAVE ACKNOWLEDGEMENT. THEN HOW CAN WE FIND THIS WAS ACCEPTED OR NOT? PLEASE HELP

16 December 2022 Check the assessment order for AY 2020-21....
Whether the same was assessed under old regime or new regime?

17 December 2022 Form 10IC shall be filed only once. Inference - Section 115BAA(5).


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