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Regime selection for Belated return

ITR Filing 225 views 4 replies

I am an individual having business income filed my return under new tax for previous year now for current year i am filing belated return, now the question is in which regime i should file my return

1. Under old scheme or New scheme

If i proceed with Old scheme, which tax rate would be applicable for me in next year, is it new or old.

For new rate i have read some articles where they are stating we cant go by new tax rate for belated return.

I am confused by which rate i should go or income tax allow me to file.

Replies (4)

1. Once you opt out, you will not be able to opt new tax regime again.

2. That is for first time assessee. As you have already opted it preceding year, continue it, be belated return.

@ Dhirajlal ji......rcd refund after 30 days today.....cr in bank but sms message by bank yet to be recived( amt credited today)

Congrats....SMS from SBI comes after about 4/5 days..

Almost all except 10 refunds are credited for our clients ranging between 20 to 30 days...

Even revised return are also processed, but refunds awaited...

First and foremost thing is that new regime not available in case of belated return


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