Answer

1. F

   Facts

   For a person without business income, the old regime option has to be exercised in a return filed by the Sec 139(1) due date. A belated return for AY 2026-27 is generally taxed under the new regime.

2. P

   Provisions and law

   • Sec 115BAC, Income-tax Act 1961 (now Sec 202)The new regime is the default; a person without business income can choose the old regime in a return filed by the Sec 139(1) due date.
   • Sec 139(4), Income-tax Act 1961 (now Sec 263(4))A belated return for AY 2026-27 can be filed by 31 December 2026.
3. A

   Analysis

   If your old regime tax would be ₹70,000 and new regime tax ₹95,000, filing late costs you ₹25,000 plus the late fee. Some tribunal rulings have allowed relief in special facts, but do not plan on it. Next year, file before 31 July if the old regime suits you.

4. C

   Conclusion

   1. 1Check whether your filing is after the due date.
   2. 2Compute tax under the new regime.
   3. 3File the belated return under the new regime.
   4. 4Seek advice if you believe special facts apply.
   5. 5Set a reminder to file on time next year.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.