I filed my return for AY 24-25 (FY 23-24) in old regime. I want to switch to new regime. I filled form 10IEA online but not submitted yet.
The last line of form says
"I also declare re-entering sub-section (1A) of section 115BAC of the Act shall render the person referred to
at serial no. 1 having PAN at serial no. 2 ineligible for opting out of sub-section (1A) of section 115BAC"
Is this statement correct?
Yes, being individual having income under head PGBP cannot opt for old regime again.
THANKS. I WILL SUBMIT FORM 10IEA.
You are welcome.
Ensure Form 10IEA is successfully e-verified and submitted before hitting submit on the ITR, and quote its acknowledgement number to avoid statutory rejection.
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