I’ve been submitting my tax within the previous regmine up until now.
Nonetheless , this yr, I heard the brand new regmine is the default .
I believe my tax legal responsibility is popping out to be related in each the regimes.
So, if I don’t wish to waste my “restricted possibilities” of switching forwards and backwards, then by which regime I ought to file, the one I’ve been utilizing or the one that’s the default (new) this yr.
( I principally have capital beneficial properties from equities. And minor losses in FnO. Though I did deposit in PPF , it most likely received’t assist offset STCG and LTCG, so it’s a waste )
Hey @raghav.95,
The brand new regime has now been made the default regime. As you may have losses in F/O, which is taken into account as enterprise revenue, you’d should file ITR 3.
In case of people having revenue from enterprise or occupation, they’ll swap to previous regime solely as soon as by submitting a type named Type 10IEA.
raghav.95:
So, if I don’t wish to waste my “restricted possibilities” of switching forwards and backwards, then by which regime I ought to file, the one I’ve been utilizing or the one that’s the default (new) this yr.
On this case, you’ll be able to file underneath the brand new regime.
Hope this clarifies.
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I’ve negligible losses in F&O. Can I file ITR2 ? ( I don’t wish to present these losses as a result of it’s a really small quantity. )