As per section 115BAC of the Act, an individual or HUF can set-off the brought forward business loss and also carry forward the same till 8 subsequent years.
Hence, you can set off your previous year’s FNO losses against this year’s FNO gains and also carry forward these losses, under the New Regime.
Read more about Section 115BAC - Understanding the New Tax Regime - Learn by Quicko.
I selected the regime as new on the company portal and it was followed throughout the year my taxes were collected based on the new regime.
But later on, i found the old one is better for me.
I want to claim HRA, EPF and ELSS.
So my company didn’t ask me for proof of these, which are not provided in form 26AS for me.
What is the next step for me, and how do i fill it?
I have all the proofs but don’t see any way to submit them.
Hi @Mobshshir
You can still file your return under the old regime, even if you opted for the new regime on the company portal.
Quicko is a DIY (Do it Yourself) tax planning and filing platform.
So, here’s how you can prepare your Income Tax Return on Quicko & proceed to E-file .
For expert assistance with your taxes, here’s how you can book a MEET