An income tax notice is an official communication from the income tax department. It is not a cause of worry if an individual reads the notice carefully and corrects the defects mentioned in the notice. Read here to know in detail what do different types of notices actually mean and by when they could be served.
If an individual is having income from business or profession for FY 2022-23 (AY 2023-24) and want to opt for or opt out of the new tax regime/ old tax regime, they need to file Form 10-IE before the deadline for ITR filing i.e. July 31, 2023 or October 31, 2023 (for audit cases).