One person filed income tax return on 31 july2024 in old regime. But failed to everify within stipulated time and verified on 8 October. Now the return is processed as in new regime and got demand of more than 20000 Rupees. Is there any chance to consider the same in old regime and avoid the calculated tax in new regime
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E filing return and late filing
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no. in absence of verification of the return within the allowed period, the date of verification shall be considered as the date of filing. Since this date was after the deadline for 139(1), you wont be able to claim the benefit of new scheme.
If you have not e verified within 30 days, your date of e verification will be considered as date of filing and it will be treated as Belated return. hence it will be process under New Tax regime and you are required to pay that demand. you cannot avoid the tax and it cannot be processed under Old tax regime.
https://eztax.in/important-steps-after-itr-efiling
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