Sec 115BAC rejected in the ITR Intimation

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If you've opted for the Section 115BAC tax regime but your return was filed late, your choice may be rejected. This means your tax will be calculated under the old scheme, potentially leading to a tax payable. To successfully switch, Form 10-IE must be filed by the ITR deadline, not with a belated return.

Gauri Nalawade

Gauri Nalawade (Querist)
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13 January 2024 I(having professional income) had opted for 115BAC for FY 21-22 by filing form 10-IE but the scheme was rejected due to return filed after due date.For FY 22-23 the return was again filed under 115BAC and the details of form 10-IE were also provided in the return.However we received the intimation calculating the tax as per old scheme and now have a tax payable.Please provide guidance

RAJA P M

RAJA P M (Expert)
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14 January 2024 Better to consult nearest professionals. They will help in this regard...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 January 2024 To switch tax regimes taxpayers must file Form 10-IE within the ITR filing deadline. The option to switch to the alternative tax regime is not possible when filing a belated ITR

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