Many clients have started receiving Intimation Orders with Demands in the last 4-5 days!
At time of filing of ITR, 87A Rebate was allowed to assessees in New Regime.
Government brought changes in Utility in the month of July by not allowing 87A rebate against Special Rate incomes in New Regime
Such ITRs which took benefit of 87A in the New Regime are now being processed – WITH A DEMAND – to pay taxes without allowing Rebate u/s 87A!
The sad part ? You can’t switch to Old Regime in Revised ITR – hence, you don’t have any other option than to pay taxes on such Special Rate incomes !!