I have an question for filing an ITR after due date.
I am filing my HUF ITR after due date can i choose new tax regime and file the ITR.
9 Replies
sabyasachi mukherjee
(27574 Points)
Replied 02 August 2022
Filing itr and opting for different regime is different.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 02 August 2022
Yes, new tax regime can be opted, while filing belated return also' provided eligible otherwise.
Abhay Salunkhe
(32 Points)
Replied 02 August 2022
While filling the ITR return our software is warning us "New tax Regime u/s 115BAC can not be opted after the due date of filing the return mentioned u/s 139(1)"
And in FY 20-21 we have opted Old Regime.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 02 August 2022
Try latest utility from e-filing site, ver. 1.1.13, & check.
You may need to file form 10IE, if filing first time under new regime.
Abhay Salunkhe
(32 Points)
Replied 03 August 2022
Yes i have already filed form 10IE. Still showing the error.
Attaching for your reference
Mahesh Shah
(2308 Points)
Replied 05 August 2022
Sir. One can not opt for sec 115 bac in case of belated return
CA Sorav Gupta
(Chartered Accountant)
(1005 Points)
Replied 05 August 2022
As per clause (ii) of sub-section 5 of section 115BAC of the Income Tax Act, 1961, a HUF not having income from business and profession cannot opt for a new tax regime if the ITR has not been filed within the due date prescribed u/s 139(1). If the HUF has business income, then 115BAC can be exercised if the Form 10IE has already been filed in any previous year within the due date.
In Nutshell,
If HUF has income other than PGBP then benefit u/s 115 BAC cannot be availed.
If HUF has income under head PGBP and form 10 IE already filed for any previous year within the due date, then benefit u/s 115 BAC can be availed.
Hope it answers your query. In case of any further queries, kindly mail me at casoravgupta @ gmail.com
Thanks & Regards
ACA. Sorav Gupta
(Practicing Chartered Accountant)
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