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newtaxregime


Question regarding old and new tax regime

In case an Individual having Business Income in his return every year opts for the old tax regime for A.Y. 2021-2022 , can he opt for the new tax regime in any subsequent year , for e.g. A.Y. 2024-2025 ? In case this is possible & he opts for the new tax regime in A.Y. 2024-2025 , in any later year , can he go back to the old tax regime ? Or will he have to stick to the new tax regime for ever after A.Y. 2024-2025 ? Can you substantiate your reply with reference to any rule , circular , no..

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