I have filed my income tax return on 31-12-2021 by opting Tax payable under new Regime. But I forgot to file form 10IE till now. Now I have received a demand order to pay the balance amount of tax. Whether I have any option to file form 10IE right now. Is there have any solution for the said case?
26 March 2022
Explanation.—For the purposes of this sub-section, the term "Unit" shall have the meaning assigned to it in clause (zc) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005).
(5) Nothing contained in this section shall apply unless option is exercised in the prescribed manner by the person,—
(i) having income from business or profession, on or before the due date specified under sub-section (1) of section 139 for furnishing the returns of income for any previous year relevant to the assessment year commencing on or after the 1st day of April, 2021, and such option once exercised shall apply to subsequent assessment years;
(ii) having income other than the income referred to in clause (i), alongwith the return of income to be furnished under sub-section (1) of section 139 for a previous year relevant to the assessment year:
19 February 2023
I had Filed Business Income ITR choosing new regime by filing 10 I E Form in A Y 2021-2022. During A Y 2022-23 I Filed Business Income ITR but opting old Regime but did not file 10 I E to go back to old regime. Assessing officer sent notice calculating Tax based on New Regime . I have opted for old Regime while filing ITR of A Y 2022-23, but didn't file 10 I E to change from New regime to Old regime.
CAclubindia
