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How to correct a return if tax regime is wrongly entered in the original return

ITR Filing 607 views 2 replies

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

Replies (2)
I guess new regime was not there in place in PY 21-22

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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