Taxpayer faces Rs 1.41 lakh demand over tax regime error; why ITAT ruled for old
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The case concerns a man’s income tax return for assessment year 2025-26. The taxpayer had opted for the new income tax regime in the preceding assessment year, 2024-25. On August 31, 2025, when he filed Form 10-IEA he opted out of the new regime and was taxed under the old income...
The case concerns a man’s income tax return for assessment year 2025-26. The taxpayer had opted for the new income tax regime in the preceding assessment year, 2024-25. On August 31, 2025, when he filed Form 10-IEA he opted out of the new regime and was taxed under the old income regime.
Original Source
https://timesofindia.indiatimes.com/business/india-business/taxpayer-filed-form-10-iea-for-old-regime-but-chose-new-regime-in-itr-triggering-rs-1-41-lakh-demand-itat-rejects-his-plea-for-new-regime-but-asks-taxman-to-allow-eligible-deductions-under-old-regime/articleshow/135795180.cms
