after due date of filing income tax return filed itr under 115 BAC scheme and now want to revise the return under normal scheme .while filing return an error occured to update opt out details of form 10IE
but unable to form file 10IE and the itr.please provide a solution to file ITR.
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Unable to file form 10IE to opt-out the option after due date
Replies (3)
File revised ITR under new scheme only, it will get processed under old scheme, as the form was filed late.
If filed under new scheme tax liability will be reduced and there is a mismatch with tax liability under normal scheme and new scheme
As you cannot file ITR under old regime, better to file it under new regime, if accepted by system.
Processing will be under old regime only, because the form 10IE will be rejected due to late filing.
If there is demand, you will be required to pay at that time.
Moreover, you cannot change the regime after due date of filing return u/s. 139(1) of the act..
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