An employer has been deducting TDS on the basis of old regime for the previous three quarters. But in January, calculation made by the accountant shows that the new regime is beneficial for most of the employees, even after the consideration of the deductions allowed under the old regime. Are employers permitted to change the basis of tax deduction within the year, from old to new, or is it like the employer has to follow only one regime for the whole year (and the employee can get refund if he wants, after filing taxes)?
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Changing tax regime within the same year
Replies (7)
Quick Summary
Then Changes can't by employer.
In case Employees required the change and said to employer then employer can compute as new regime.
But,
If employee already follow old regime then he want to change new scheme with filing of form 10IE
In case Employees required the change and said to employer then employer can compute as new regime.
But,
If employee already follow old regime then he want to change new scheme with filing of form 10IE
Of course, the change is with the consent of employees.
10IE is for persons with Income from PGBP. Not for salaried employees.
Yes You are correct, It's typically with flow of writing.
Not possible to change the tax regime in the same year.
Employer cannot change. But the employee can change while filing IT returns and claim refund.
@ Jacinthamary,
Yes, You are correct.
But, Employer will give FORM-16... Right...?
Then, What can do by employer...??
Yes, You are correct.
But, Employer will give FORM-16... Right...?
Then, What can do by employer...??
Why? Can you point out the provision to me that specifies that it cannot be done so? Or any circular/notification?
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