webconcepts (Owner) (63 Points)
01 July 2024I am trying to file my income tax returns using ITR 4, I am finding that I am not allowed any deductions though I am a private citizen and not an employee of any organization. I am only being given the option of contribution to central government scheme by employer, under section 80 CCD (2) when I am not a central government employee. Is anyone else facing the problem and how to fix it?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(164532 Points)
Replied 01 July 2024
If you wish to get any deduction allowed in chapter VI-A, like sec. 80C, 80D etc..; opt for old regime, in schedule General. (i.e. opt OUT from default New Regime.) & file form 10IEA.
webconcepts
(Owner)
(63 Points)
Replied 01 July 2024
Usually how many people are opting for the old regime and when is the form 10 IEA submitted ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(164532 Points)
Replied 01 July 2024
Who so ever find old regime beneficial, can opt for old regime,
As you have income u/h. PGBP, you need to file form 10IEA to opt out of new regime.
CAclubindia
