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Tax regime regarding
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)
Quick Summary
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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So, If You want any details then ask Your query with details and clear ways...
| Originally posted by : Garg Enterprises | ||
 |
Dear sir my query is , after close business if a person doing job then he can switch tax regime every year or nto |  |
-->> 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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