One person filed income tax return on 31 july2024 in old regime. But failed to everify within stipulated time and verified on 8 October. Now the return is processed as in new regime and got demand of more than 20000 Rupees. Is there any chance to consider the same in old regime and avoid the calculated tax in new regime
1 Replies
Nikhil Kaushik
(Fellow CA)
(86248 Points)
Replied 27 February 2025
no. in absence of verification of the return within the allowed period, the date of verification shall be considered as the date of filing. Since this date was after the deadline for 139(1), you wont be able to claim the benefit of new scheme.
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