SECTION 115BAC FOR AY 2025-2026
This query is : Resolved
06 August 2025
If a taxpayer having income from business or profession has opted for the old tax regime for the Financial Year 2024-25, he shall be allowed to switch to the new tax regime for the Financial Year 2025-26 only once. However, once the new tax regime is opted, he shall not be eligible to switch back to the old regime in any subsequent year, unless the business or professional income ceases to exist. is this correct??
06 August 2025
Absolutely correct...
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