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New & old regime

BIJU P K (471 Points)

18 October 2021

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

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Kev Men (756 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.

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BIJU P K (471 Points)
Replied 18 October 2021

Thank You Sir

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 18 October 2021

Yes he can

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