Hello Members,
One of the assessee has filed ITR for FY 22-23 after due date under New regime of income tax and department processed the return but not allowed new regime and calculated tax in old regime and issued demand payable. The assessee is having business income. Now what remedy assessee have. Please help regarding this. What he have to do now???
Menu
Revision of Return New Regime
Replies (7)
You cannot take benefit of some deductions or allowances.
Yes that I know, but I want to know that whether assessee have to pay the demand now or he have any other remedy
You cannot take benefit of some deductions or allowances as in the old regime.
Sir, last year the default refine is old regime. so everything the assessee had filed the return late under new regime, he cannot opt for it and must file under old regime.
can't do anything now except to pay taxes.
can't do anything now except to pay taxes.
New regime Sec 115Bac
No other option but to file ITR U with old regime and some tax outflow. Please connect
Regards-CA Raj Doshi-R C D & Co-Chartered Accountants-Kandivali West-Mumbai
Regards-CA Raj Doshi-R C D & Co-Chartered Accountants-Kandivali West-Mumbai
If you file after due date you are not eligible for new regime. so accept the notice and pay the demand.
Recent Topics :
- Section 56(2)(x)(xi) applicability to compensation
- How to claim exempt income u/s 10(26) in ITR-1 of
- 63053900 tax rate
- Clubbing of deceased's income
- Which ITR to use
- Sovereign gold bond capital gain
- In TDS section no column for relationship in itr
- Query related to agricultural income of Trust
- Full & Final Settlement — what changed u
- Capital gains or losses when new equity was issued
Related Topics :
CAclubindia
