Income tax Old Regime to New Regime

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This query is : Resolved

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This discussion addresses the possibility of switching from the old to the new income tax regime. The user filed their last return under the old regime and wants to know if they can switch for the current and upcoming financial years. The advice confirms that changing regimes is indeed possible when filing your Income Tax Return (ITR).

Arun Iyer

Arun Iyer (Querist)
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26 July 2024 Request to inform about:-
Filed IT return during last FY 2022-23 - with old tax regime

1. yet to file for FY 2023-24 - already informed to company for old tax regime and they deducted TDS for the same, but before filling IT return shall change from Old regime to New regime

2. for current year FY 2024-25 - informed to company for old regime they also started to deducting TDS, shall change my regime as New

Pl advice on the same.

Thanks