Ǫ.1: Taxpayer is unable to choose ITR 1/ 4 from drop-down for AY 2024-25 as the option is grayed off while filing return?

Ans: If a taxpayer has a special rate of income and TDS is deducted for such income (for example, 115BB), then ITR 1 and ITR 4 are not applicable for such taxpayers. So, the respective dropdowns are grayed off. In this case, the taxpayer is required to file ITR Form 2 or 3, as applicable.

Ǫ.2: Schedule VIA for claiming deductions is not enabled while filing the ITR for AY 2024-25?

Ans: From AY 2024–25, the new tax regime has become the default tax regime, and VIA deductions cannot be claimed except deductions under 80CCD(2), 80CCH, and 80JJAA as per the provisions of Section 115BAC of the Income Tax Act, 1961. In case the taxpayer wants to claim any deductions (as applicable), then they need to choose the old tax regime by selecting the "yes" option in ITR 1 or ITR 2 (or the "yes, within due date" option in ITR 3, ITR 4, or ITR 5) in the field provided for the "opting out option" under Schedule 'Personal Information' or 'Part-A General' in the respective ITR.

3. While filing the ITR, the taxpayer is getting a bank account validation error. So, how do I resolve the issue?

Ans: The taxpayer has to check that 'whether a valid bank account detail' is added under the 'My Bank Account' tab in the 'My profile' section of the income tax portal before filing the ITR. The taxpayer should update their profile correctly before starting the new filing of their return. Taxpayers can file ITR using offline utilities in case they face any issues while validating their bank account. However, a pre-validated bank account is required for the issue of a refund.

Ǫ.4: In case taxpayer has earned special income like winning from a lottery or horse races, then whether taxpayer is eligible to file ITR 1 and ITR 4?

Ans: In cases where TDS has been deducted from special income like winning a lottery or horse races, etc., then filing of ITR-1 and 4 is not allowed. So, it is recommended for taxpayers to check Form 26AS and AIS before filing the ITR.

˪.5: If Form 10IEA is filed for AY 2024–25, then is it compulsory for taxpayers to opt for the old tax regime?

Ans: Yes, once Form 10IEA is filed for AY 2024-25, it cannot be reverted to the same AY, and taxpayers need to mandatorily opt for the old tax regime for AY 2024-25. The taxpayer can change the option in the next assessment year based on the income details and ITR applicability for such an assessment year.

Ǫ.6: In which case is the is the filing of Form 10IEA for AY 2024-25 compulsory to opt for the old tax regime?

Ans: In cases where taxpayer wants to file ITR under the old tax regime for AY 2024-25 with business and profession income, i.e., either in ITR-3 or ITR-4, then filing of Form 10IEA is mandatory.

Ǫ.7: Taxpayer is unable to claim interest on borrowed capital of self-occupied property as it is greyed off?

Ans: From AY 2024–25, 'New Tax Regime' has become the 'Default Tax Regime', and claiming "interest on borrowed capital for self-occupied property" is not allowed as per the provision of Section 115BAC of the Act, 1961. In case the taxpayer wants to claim, then the taxpayer must choose 'Old Tax Regime' by selecting "Yes" in ITR 1 or ITR 2 or the "Yes, within due date" option in ITR 3, ITR 4, or ITR 5 in the field provided for the "opting out option" in the ITR Form.

Ǫ.8: While filing ITR for AY 2024-25, "Taxpayer unable to claim all other deductions other than 80CCD (2)?"

Ans: From AY 2024–25, the new tax regime has become the default tax regime, where claiming of Chapter VIA deductions is not allowed except Section 80CCD (2) as per the provision of Section 115BAC of the Income Tax Act. In case the taxpayer wants to claim any other VIA deductions, then the taxpayer must choose 'Old Tax Regime' by selecting "Yes" in ITR 1 or ITR 2 or the "Yes, within due date" option in ITR 3 or ITR 4 in the field provided for the "opting out option" in the ITR Form.

Ǫ.9: Taxpayer is getting error as "Name of taxpayer in ITR does not match with the name as per the PAN data base?

Ans: The first name, middle name, and last name in the ITR should be the same as the name registered under the My Profile section after logging in to the portal. Taxpayers should update their profile and then download the latest prefill JSON for filing returns in offline mode or start new filings in online mode to resolve these issues.

10.10: For AY 24–25, the taxpayer filed Form 10IEA by mistake and now wishes to revoke or withdraw the same. Can taxpayers withdraw or revoke?

Ans: Once Form 10IEA is filed for AY 2024-25, it cannot be revoked or withdrawn in the same AY. Taxpayers must mandatorily opt for the old tax regime for AY 2024-25. But the option to 'Withdraw' will be available in subsequent years, and it can be changed only once in a lifetime for business and profession cases, i.e., in the case of ITR-3 or ITR-4.

Ǫ.11: Taxpayer unable to claim 10(13A) house rent allowance while filing return for AY 2024-25?

Ans: From AY 2024–25, the new tax regime has become the default tax regime, where claiming HRA under § 10(13A) is not allowed as per the provisions of Section 115BAC of the Income Tax Act. In case the taxpayer wants to claim HRA, they must choose 'Old Tax Regime' by selecting "Yes" in ITR 1 or ITR 2 or the "Yes, within due date" option in ITR 3 or ITR 4 in the field provided for the "opting out option" in the ITR Form.

12. Is there any form required to file for claiming the deductions under 80DD and 80U?

Ans: In case the taxpayer is claiming any deduction under Sections 80DD and 80U in the return of income, then it is recommended for the taxpayer to obtain a certificate from the relevant medical authority for such disabilities in support of the deduction claimed under Section 80DD and 80U and to file Form 10IA as applicable as per Rule 11A, and details of Form 10-IA (acknowledgement no. and date) may be furnished in Section 80DD and 80U of the return.

Ǫ.13. Does Taxpayer require to mandatorily verify the return?

Ans: Yes, verification of ITR after submission of ITR is mandatory. Taxpayer to ensure the return should be verified within applicable due time of 30 days post successful submission of return either through EVC mode or DSC. Taxpayer can also download the ITR-V receipt copy available under View Filed return after login on the portal and send to CPC through speed post within 30 days of filing return for verification of ITR to avoid any further issues. Please note that it is recommended to complete the verification through Online mode only to avoid any postal related issue.

Ǫ.14: Taxpayer is not able to choose Yes/No" for "Whether you were director in a company at time during the previous year" while filing return in ITR 2 / ITR 3?

Ans: This question is applicable only for "Individual". Please check the Status of the Assessee. If Status is selected as 'Individual', then option "Whether you are a 'Director' of a company at any time during the previous year" will gets enabled and then enter the details and proceed to file the return.

Ǫ.15: Taxpayer is getting error as "Gross receipts/turnover is provided in schedule BP but financial particulars such as sundry creditors/Inventories, sundry debtors, cash in hand is not filled" in ITR 4?

Ans: It is mandatory to fill fields such as 'Sundry Creditors, Inventories, Sundry Debtors, Cash in Hand' under "Financial particulars" in schedule BP in ITR 4. If not filled, it will throw error.

Ǫ.16: Taxpayer filed Form 10-IEA and submitting ITR with correct Form 10-IEA details, but still error is appearing to please enter valid Form 10IEA details?

Ans: Taxpayer to check and validate the Form 10IEA details under "view filed Forms' after submission of Form 10IEA and then retry filing ITR after entering correct form filed details. Also, Taxpayer to make sure not to submit Form 10-IEA multiple times on the portal.

Ǫ.17: The taxpayer corrected the validation errors that he encountered during ITR submission. But even after the correction, when he clicks on "Proceed," errors are still showing.

Ans: It is recommended to try resubmitting the ITR in a fresh session to avoid such issues after correcting errors.

Ǫ.18: The taxpayer has entered the amount of deduction under 80CCD (2) under Schedule VIA in the return, but the eligible amount of deduction is computed as 0.

Ans: Taxpayers should check if salary income is provided after selecting the 'Basic Salary' drop-down under Schedule Salary for computing the eligible amount of deduction claimed under § 80CCD (2) of the Income Tax Act, 1961.

Ǫ.19: Is it mandatory to verify the return through the DSC option only for 44AB audit return cases?

Ans: There is an amendment in Rule 12 of the Income Tax Rules, 1962, from April 1, 2024, where in cases where a return is being filed by an individual or HUF, taxpayers can verify the return through EVC mode or DSC mode, even for 44AB audit-applicable cases.

Ǫ.20: What is the difference in the new tax regime provisions as per Sections 115BAD, 115BAE, and 115BAC of the Income Tax Act, 1961, applicable for filing the ITR-5 return for AY 2024-25?

Ans: Section 115BAE is the new section introduced from AY 2024–25 for a new co-operative society resident in India, incorporated on or after April 1, 2023, engaged in the business of manufacturing. Such taxpayers are required to pay tax at 15% on manufacturing business income and at 22% on remaining income. Form 10IFA is required to be submitted to avail of this option.

Section 115BAD is applicable for all other resident cooperative societies registered on or after April 1, 2021, and eligible to opt in and pay the applicable tax rate of 22% on their total income. Form 10IF is required to be submitted to avail of this option.

Please note that once this new tax regime provision is exercised under 115BAD or 115BAE, the same provision will be applicable for all subsequent AYs, and it cannot be withdrawn later for any assessment year.

Section 115BAC is applicable to all AOP's (other than cooperative societies) or BOIs or AJPs who are filing returns of income in ITR-5 from AY 2024–25, where taxpayers can compute the tax as per the revised tax slab applicable to the new tax regime and pay the tax accordingly. Form 10IEA is required to be submitted within the due date to avail this in case of business income.

Ǫ.21: Is there any requirement to file any form for claiming a new tax regime as per the provisions of Section 115BAD or 115BAE?

Ans: Taxpayers need to file Form 10IF for claiming a new tax regime as per Section 115BAD and Form 10IFA for claiming a new tax regime as per Section 115BAE.

22: Is the taxpayer required to file Form 10IF or 10IFA every year for claiming the new tax regime in the ITR-5 return for Section 115BAD or Section 115BAE?

Ans: No. Taxpayers are not expected to file Form 10IF or 10IFA every year. The taxpayer is required to file Form 10IF or 10IFA only once within the due date as per Section 139(1) in the year in which the taxpayer wants to opt for the new tax regime for the first time.