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OLD & NEW REGIME

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TARIQUE RIZVI

TARIQUE RIZVI (Querist)
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09 December 2021 Dear Sir,

Which one should be chosen ?

Tax Liability as per the old regime and Tax Liability as per the new regime which one of these regimes reflects the minimum tax liability and which one is beneficial in future. Once we choose New Regime, we will have to remain within the new regime.
Please guide me and oblige.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 December 2021 1. The benefits differ for different assesses. Generally, If deductions claimed are more, old regime would be beneficial, otherwise new regime is better.
2. Assessee not having any income from business/profession have choice to choose any of the regime, every year without any restriction.

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