I filed ITR-1 for A.Y. 2022-23. My total income for the year is Rs.13,24,446. Income tax calculated for that amount in the new regime is 149358. But unfortunately i selected the tax regime as "old regime" by mistake. This resulted in a demand notice because the total tax due as a result is Rs. 218228
Consequently, all my subsequent refunds are withheld. Can some guide me how to correct this?
Thanks in advance
As such change of regime is not possible now. The last date to revise the return u/s. 139(5) for AY 2022-23 was 31.12.2023.
You should have compared the tax liability under both regime, before filing the return.
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