ALTERNATIVE TAX REGIM

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technical officer
30 Points Posted on 23 July 2022

Our tax preperaor have submitted my last year income tax returns in alternative tax regime under section 115b. This year I wanted to submit in old regime where exemptions are allowed. Kindly advise me how to do it please.

 

Nageswara rao A

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On 23 July 2022 at 19:58 Report
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Quick Summary
This discussion addresses how to switch between the old and alternative tax regimes for income tax returns. It clarifies that taxpayers can choose the most beneficial regime each year, provided they don't have business income. If business income is present, the choice is generally limited to once. The conversation also touches upon which Income Tax Return (ITR) form was filed previously.

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SEO Sai Gr. Hosp.
212535 Points Posted on 23 July 2022

You can change it every year, as per your wish, provided you do not have any business income.

Otherwise only once.........

1 Reply
On 23 July 2022 at 20:24
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CFO- at NHTF
58280 Points Posted on 23 July 2022
Income Tax dept has given option to tax payer to choose the tax regime whichever is beneficial
1 Reply
On 23 July 2022 at 21:06
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Chartered Accountant
86505 Points Posted on 23 July 2022
Which ITR you filed last year
3 Reply
On 23 July 2022 at 21:26

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