Revised ITR1 or 2 after 31st July 2024 from old regime to new regime

 switching from the old to the new tax regime, and their revised ITR has been processed, the new tax regime slab will apply. Here's what happens: 1. The taxpayer files a revised ITR, opting for the new tax regime. 2. The revised ITR is processed, and the new tax regime slab is applied. 3. The taxpayer will be taxed according to the new tax regime rates and rules. The new tax regime slab will be applied, which means: - The taxpayer will be taxed at the reduced tax rates introduced in the new regime (10%, 12%, 15%, 20%, and 25%). - The taxpayer will not be eligible for exemptions and deductions available in the old regime (like HRA, LTA, etc.). - The taxpayer will be eligible for the benefits of the new regime, like the reduced tax rates and simplified tax structure. Keep in mind that once you switch to the new tax regime, you cannot revert to the old regime in subsequent years. However, if you've already filed your ITR under the old regime, you can still revise it to opt for the new regime within the prescribed timeframe (usually 3 years from the end of the relevant assessment year).

Show me reference in income tax web site

Your self can watch Income-tax website and notifications section 

Rama Chary

You made big story, I just asked any one ITR processed after revised  ITR from old to new regime  after 31 st july 2024,  what is out come and tax slab applied.

You just jumped in to give your story. You gave your story but not given reference from IT web notification number.

You have confused Me and many more.

Last two para are incorrect , in ITR 1 and 2 one can chose new regime or old regime till 31sf july , can also revise till 31st juLy  old to new or new to old ,  once selected new can not go back to old  after 31st  july  but old regime can go to new  regime , once new regime selected after 31st july can not go to old regime.

Now for ITR 3 and 4  once selected old or new regime , you can not change old to new or new to old in that year, your ITR will be accepted from old to new and  your total income will be taxed as per old tax rates. Means heavy tax. 

Finally you have to file your revised ITR  same as original yo avoid heavy demand.

Revised ITR your New to old  regime will be rejected.