Can a person having income from fd opt for the new tax regime in the financial year 2023-24 and then switch back to the old regime in the financial year 2024-25.It may be noted that the person had been filing income tax returns based on the old regime in the previous financial years.
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Clarification regarding opting ror new regime
Replies (3)
The option is available one time (vice a versa).
I think switching is restricted only to people with business income. others can opt back n vice versa every Financial year. others pls confirm
note that now default option is new regime
note that now default option is new regime
Yes, Salaried employee can opt without limits.
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