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New regime
My employer has deducted tax on the basis of old regime for FY-20—21.Now will I be able to file ITR for AY-21/22 on basis of new regime. Do I have to act now?
Replies (3)
If you file under new regime means under concessional rate of tax then no deduction and set off benefits will be applicable for return. You should file ITR under old regime
Deductions are understandable, but please explain set off. Capital gains?
Past Losses of the sections that are not allowed under new regime, if any, can not be claimed.. You want to opt or not depends on your personal case.. go with what results in a lesser tax liability
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