09 January 2023
An assesee having business income filed Income tax Return Opting new sec.115 BAC of Income Tax act, 1961 for the F.Y.2020-2021. But in F.Y.2021-2022 Income tax return was not filled with in the due date for the same assessee but filed after due date. In this case can we opt New sec.115 BAC or opt out from new sec.115BAC. In summary, in one F.Y.2020-2021 filed income tax return by opting new sec.115BAC with in the due date after next F.Y.2021-2022 return filed after due date. In this case new sec.115BAC can opt or not. Thanks in Advance.
10 January 2023
If the form was filed only once in life time, you were eligible to file ITR for AY 2022-23 under new regime. But now you cannot file even belated return for AY 2022-23...
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