Sir,if an emploee adopts new tax regime for financial year 2023-24,can he adopt old tax regime in financial year 2024-25 again
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Quick Summary
This discussion clarifies whether an employee can switch back to the old tax regime in the financial year 2024-25, having opted for the new one in 2023-24. The consensus is that this is generally permissible for salaried individuals without business income, as the change occurs between financial years, not within the same year. It's confirmed that an individual cannot utilise both regimes concurrently in a single financial year.