I have business income and had opted for Old regime in FY23-24. Now i wish to continue under old scheme for FY24-25, but erroneously have filed Form 10IEA for renetering new regime. Now my query is:
Pls guide.
Revoking Form 10IEA before filing ITR:
As per the income-tax act, 1961, there is no direct provision to revoke Form 10IEA once it is filed. However, you can still file your ITR under the old regime, and the filed Form 10IEA will not be considered until the ITR is filed under the new regime.
Filing ITR under the old regime withut acknowledging 10IEA:
If you files your ITR under the old regime without acknowledging Form 10IEA , it will not be considered an invalid return. You can proceed with filing your ITR under the old regime, and the tax authorities will process it accordingly.
Tried filing but it is saying cant upload without giving 10IEA details. So is it like we do not have any option of filing under old regime.
CAclubindia
