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Tax regime

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Nilesh Shringarpure

56 Points Posted on 19 July 2021

can we change tax regime in the next year I mean if for this financial year new regime is selected, in the next financial year once again can I go in for old one. pl advise

Replies (6)

Quick Summary

This discussion clarifies whether individuals can change their tax regime year-on-year. It confirms that salaried individuals and those with income from other sources can switch between the old and new tax regimes annually. However, individuals with business income are not permitted to switch regimes once they have opted for one.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 20 July 2021

Yes you can

ayusmita

Tax consultant

5895 Points Posted on 20 July 2021

A salary person can do that only changing from old to new or new to old
not all persons

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 20 July 2021

If you are salaries employee or you have income from other sources only then only you can change.

Assessee having business income can not switch tax regime.