Clarification regarding opting ror new regime

This discussion clarifies whether individuals, including those with income from Fixed Deposits (FDs), can opt for the new tax regime in the 2023-24 financial year and subsequently switch back to the old regime in 2024-25. It addresses the common misconception that this option is limited to those with business income, confirming that salaried employees can indeed switch regimes. The new tax regime is now the default option, but individuals have a one-time opportunity to choose their preferred regime.