The trouble with missing ITR deadline under new tax regime4 min read . Updated: 05 Aug 2022, 12:14 PM IST
- You will need to calculate your liability again. Mint answers key questions that this tax rule raises.
Did you plan your taxes for the current assessment year (AY2022-23) as per the new tax regime but missed filing the income tax return (ITR) by the 31 July deadline? Well, you are in for an unpleasant surprise. Income Tax (I-T) laws do not allow taxpayers to file belated ITR under the new tax regime, which would mean that all belated ITRs have to be mandatorily filed as per the old regime.
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