Old regime

1208 views 14 replies
my client is retired pensioner of bank.
now he wants to opts old regime.can he continues old regime for future or he can change to new regime for next years
Replies (14)

If pension is the only income, he can change the regimes any number of times......... (but one regime for an year)

In the case of pension or salary income, the assessee always has the option to choose between the old tax regime and the new tax regime, selecting whichever is more beneficial.

Suppose I file with new regime for AY24-25, can I change it to old regime for AY25-26

 

Yes, any number of times specifically to assesses not having any business income. For them it is once in lifetime.

Thank you Dhirajlal sir for your usual prompt response

My Pleasure.                          

If the person has dividends, interset income and capital gain (ITR 2) and no business income can he/she switch between old and new regimes ?

@ Rani.......

Yes..........

Thank you very much Sir

You are welcome.           

Originally posted by : CA Anoop Kumar Sharma  geometry dash
opening quote In the case of pension or salary income, the assessee always has the option to choose between the old tax regime and the new tax regime, selecting whichever is more beneficial. closing quote

Thank for reply.

Originally posted by : Steve Kennedy
opening quote your welcome


Originally posted by : CA Anoop Kumar Sharma


 
In the case of pension or salary income, the assessee always has the option to choose between the old tax regime and the new tax regime, selecting whichever is more beneficial.





Thank for reply.
closing quote

 

Advise your client to evaluate both regimes each year based on his income and deductions. Tax-saving tools or consultations with a tax professional can help determine the most favorable option annually.  best s*x dolls

Originally posted by : Poly Track
opening quote Suppose I file with new regime for AY24-25, can I change it to old regime for AY25-26

 
closing quote

If you have already submitted a new application, it cannot be changed.

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