Dear Sir/Madam,
I am writing with reference to my filed Income Tax Return for the assessment year 2024-25, which was submitted under the old tax regime.
I have recently received a notice from the department requesting supporting documentation for the deductions claimed in that filing. As I am currently unable to provide some of the required documents as i have misplace it., I would like to inquire if it is permissible to file a revised return opting for the new tax regime. My assessment indicates that my tax liability would be nil under the new regime.
Could you please clarify if this transition is possible at this stage and advise on the appropriate procedure to follow?
CAclubindia
