The marathon is for calculation of tax liability only, not of allowing the regime while filling the return. If the tax rate is not changed as per filed regime , what is the meaning of allowing to file in differnet regime?
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Regime change in ITR
Quick Summary
People will make mistakes and IT will earn in taxes, intrest and penalties.
Did you heard from any one who processed his revised return old to new after 31st july.
Do he get new slab rates.
I am filing ITR in new regime for AY 2024-25. Can I switch between old and new tax regime in the next years? An Individual, HUF, AOP (not being co-operative societies), BOI or Artificial Juridical Person with business or professional income will not be eligible to choose between the two regimes every year. Once they opt out of new tax regime, they have only one chance for switching to new regime. Once they switch back to the new regime, they won’t be able to choose old regime anytime in future. An individual with non business income can switch between the new and old tax regimes every year. Within the same year, again it is emphasized that the choice of old tax regime can be made only before the due date of filing the return u/s 139(1) of I T Act.
Article is from IT FAQ last phrases talk about old regime within same year so look new regime switching is possible within same year.
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