Assessee opts for old regime of taxation at beginning of FY 23-24.
During the year, Employer deducts his TDS as per old regime considering all the deductions and exemptions.
Now at the time of return filing, Can assesse file return under new scheme of taxation?
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Old V/S New Scheme
Replies (3)
Quick Summary
Yes, no problem.
Yes you can but there might be a case of difference between net tax liability as new regime restricts many of the deductions & exemptions allowed under old one
Read sec 115BAC
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