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Tax regime regarding

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if a person in Business and profession in A.Y 2024-25 opted old tax regime which he can opt one in a lifetime. Further he close his business and will do job the he will opt new tax regime or not.
Replies (7)
Yes, he can opt if filing ITR for salary income.
As per IT guidelines he can opt only once in a lifetime which he already opt during business income?
Read sec 115BAC

If assessee do job, then he can switch his option in every FY

Dear sir my query is , after close business if a person doing job then he can switch tax regime every year or nto
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Originally posted by : Garg Enterprises
opening quote Dear sir my query is , after close business if a person doing job then he can switch tax regime every year or nto closing quote

-->> If Only Salary income then You can switch to scheme every Year

-->> If Salary & Business/Profession incomes then Can't switch except once.


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