Old vs New Tax regime

This discussion clarifies whether you can file your Income Tax Return (ITR) under the new tax regime if your Form 16 was prepared under the old one, and vice versa. Generally, you can switch to the new regime (Section 115BAC) at the ITR filing stage, even if your employer deducted TDS under the old regime. However, this is contingent on filing the correct declaration form (Form 10-IE) if required, and your employer's TDS filing. If your employer has already filed Form 16 under the old regime, switching might be restricted unless specific conditions are met.