An assessee opted for new regime in the A.Y 2021-22 by filing form no10IE within the situplated time. For the A.Y. 2022-23 return of income could not be filed within the due date wheather he is eligible for tax under new regime in the A.Y. 22-23.
Menu
New Tax Regime Clarification
Replies (5)
Quick Summary
If the assessee wants to file return of income a new tax regime then it is compulsorily required to file return on or before due date of return prescribed under section 139
It is at the option of assessee to choose new or old tax regime
Even if return not filed on time, assessee is eligible for new scheme.
The assessee is eligible to take the new regime in the FY 2021-22 or AY 2022-23 if he is not having a business income. Salaried professionals are allowed to choose their regime in every FY.
The taxpayer has to file Form 10E before filing the Income-tax Return in FY 2021-22 intimating the dept. that he has chosen the new tax regime,
New tax regime calculation .Sec 115bac
Recent Topics :
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
Related Topics :
CAclubindia
