ITR filing deadline missed: A belated ITR for FY2023-24 (AY 2024-25) can only be filed under the new income tax regime

How to File Belated ITR: A big disadvantage of filing a belated income tax return (ITR) is that, starting August 1, i.e., after the July 31 deadline, individuals cannot opt for the old tax regime when filing their tax return for FY24. The new tax regime is the default under the current income tax laws.

from Tax-Wealth-Economic Times https://ift.tt/VLAMK1G