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Switching between new and old tax regime

Tax planning 712 views 4 replies

I have earned interest from partnership firm under income from business and profession. I had opted for new tax regime last year. Do I have the option to switch between new and old tax regime every year?

Replies (4)

Though not clarified anywhere, but I think you should be eligible to switch between both regimes.

Now onwards new tax regime will be default tax regime. But there is option to select old tax regime. person having salary income can switch from old to new or vice versa every year. However assessee having business income can switch only once.

Assessee having business or profession income, after opting for regular tax regime will have an option to move out only once.

So is it that I have only one option to move from new regime to old regime.

Not advisable however what is your income .
rather gti


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