Does the tax saved after switching the regime get's reflected in current FY ?

ITR 174 views 3 replies

I work in 1 company in Bangalore , Between 1-10th April in there portal option was provided to choose between old regime and new regime . I selected new regime , and i noticed in there's a lot of tax deduction in new regime . Later on i took help of my CA and got to know that if we consider HRA also so i am getting benefitted in old regime . 

Now i want to switch to old regime , i know that we can change while filing ITR , What i want to know is , if i change to old regime while filing ITR , would i get the upcoming month's salary(AUG2023 -MARCH 2024) considering old regime tax deductions ultimately increase in inhand salary ? 

Replies (3)

Employer's mandate will not change. What you change is for ITR purpose, that too for preceding FY, while your current salary deductions are based on option chose in current FY.

so how to get back that amount which got cut in taxes when i am in new regime ? . 

When you file return, you can ask for the refund of excess TDS deducted.


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