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New & old regime

BIJU P K (426 Points)

18 October 2021  
can a Pensioner opt for old regime next year If he opted for new regime this year?

 3 Replies

Kev Men (228 Points)
Replied 18 October 2021

As per proviso to section 115BAC (5), if the person does not have income from business or profession, the person can opt between old and new tax regime. So a pensioner (without business/profession income) can opt for old regime next year even though he opted for new regime this year.
1 Like

BIJU P K (426 Points)
Replied 18 October 2021

Thank You Sir

Sourav (Student) (23892 Points)
Replied 18 October 2021

Yes he can
1 Like

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