Assessee having business income
FY 2022-23 - Going to file under Section 115BAC
For FY 2023-24 - Default regime is 115BAC. Can I opt for old regime in FY 2023-24?
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Switch between income tax regimes
Replies (4)
Yes, Need to file form for change in regime.
Thanks for your reply. One more doubt.
If he opts old regime in FY 2023-24, can he file under 115BAC in FY 2024-25?
As per present rules, unless you declare income under head PGBP, change of regime is allowed every year.
So, yes. Unless any new regulations declared in new budget, 2024.
You hv to apply thru a specific format.
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