Sec 115BAC rejected in the ITR Intimation
This query is : Resolved
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
14 January 2024
Better to consult nearest professionals. They will help in this regard...
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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