New Income Tax Exemption Scheme(AY-2021-22) applicability for freelance professional (44ADA)

This discussion explores whether freelance professionals utilising the 44ADA scheme can opt for the new income tax regime from Assessment Year 2021-22. While the new tax slabs are generally for individuals and HUFs, clarification is sought on their applicability to those filing under 44ADA. It's advised to await further notifications before making a decision, as choosing the new regime is a one-time, irreversible option for businesses.