taxpayers wonder if they can switch between the new and old tax regimes while filing income tax returns (ITR). The new tax regime was introduced in Budget 2020 and later revised in Budget 2023.

Using this information, the department has identified people who had taxable income but did not file ITR. However, the action specifically covers the financial years 2018-19, 2019-20, and 2020-21 ...

A tax payment is required at the time of submitting ITR-U, and cannot be filed to take the tax refund. The deadline for filing updated Income Tax Returns (ITR-U) for the Assessment Year 2021–22 ...