The Union Budget 2024 proposed including a reference to the Black Money Act, 2015.
TDS (Tax Deducted at Source) aims to collect tax at the source of income.
If you (ITR-3 and ITR-4 filers) do not file form 10-IEA, it will be assumed that you have opted for the new tax regime.
India offers two tax regimes: the old and the new.
For the financial year 2024-25, the first advance tax instalment is due on June 15th, 2024., that is today.