🌟 my dear honorable persons, could you please tell me the old regime under new regime of income tax.... is there any legend there is no bulae directions??
can people can easily change old regime and new regime is there any option
which person only having full rights to change the year resume tax paying their wish
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Quick Summary
Individual not having business income can opt for any regime year to year which is beneficial to them. But Individual having business income will have one time option to go under new regime by filing form-10IE, Once he come out of new regime scheme he cannot able to file again under new regime in any upcoming year
In new regime there is no tax deduction benefits??
There are only limited deduction benefits such as 80CCD(2) , and you are not eligible to carry forward loss, you are not eligible to Interest on housing loan( if it is self occupied)
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