For new tax regime

FOLLOW SEC 115BAC

Not mentioned clearly please elaborate particular this doubt in case of salaried person

The new tax regime introduced by Budget 2020 for individual taxpayers provide for concessional tax rates with reference to tax rates in the old regime. The new tax regime has lower income tax rates for income up to 15 lakh but what needs to be focused upon is that lower income tax rates are available only if a taxpayer is willing to give up exemptions and deductions available under various provisions of Income tax act, 1961. Since, most exemptions and deductions are not available which reduces the associated compliance and documentation, the assessment of which regime holds an upper hand is of utmost importance. Salaried individuals are granted an option to choose between old and new scheme at the time of making their tax declaration to employer for the purpose of TDS. Having said that, even if any individual chooses one option at the time of making declaration to employer for TDS, he is free to change the option and select another one, at the time of filing the ITR. Salaried individuals and pensioners would be eligible to switch between new tax regime and old tax regime as per their convenience every year, provided they don’t have business income. However, other individuals with business income can switch back to old tax regime but only once in a lifetime.

That means a salaried person have salary and other income whatever name called like other sources income or house property income or income from profession then he is not eligible to change in both regime as per their convenience when once it opts

He can change but have to follow certain conditions