Applicability of new tax regime

Amit Kumar Das (Retd) (236 Points)

23 August 2022  

I want to know whether a resident Indian senior citizen having income from

(1)pension

(2)bank fixed deposit interest

(3)savings bank interest

and

(4)LTCG from sale of units of ELSS purchased in March 2019 and redeemed in March 2022 on completion of three years lock-in period   

(less than Rs.100000 and hence not taxable)

is eligible to opt for new tax regime for FY 2021-22 corresponding to AY 2022-23  if he e-files ITR2 in August 2022 after due date of 31 July 2022 and pays self assessment tax with late fee and interest on line also after 31 July 2022 just prior to filing ITR2 in the same transaction.