watch_later 07/09/23

There are changes in TDS forms being filed. One change is to answer "Whether deductee opting out of taxation regime u/s 115BAC (1A)? (Y/N) "

Can someone enlighten on this point? How as a deductor, I can verify whether deductee will be opting out or not? Or this is specifically for employees only?


1 Response | Latest response: 07/09/23 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 07/09/23

115BAC (1A) is regarding new tax scheme.

It is really impossible to check whether payee is using new scheme or old scheme. Let's wait for clarification on this point before filing return.

It is advised to wait for clarification before filing return.


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