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Question regarding changing between old and new tax regime, Income Tax

Issue Id: - 116881
Dated: 29-11-2020
By:- Jignesh Desai

Question regarding changing between old and new tax regime


  • Contents

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 , notification , etc ?

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Showing Replies 1 to 1 of 1 Records

Page: 1


1 Dated: 2-3-2021
By:- DR.MARIAPPAN GOVINDARAJAN

In my view once you go to the new scheme there may not be any reversal to the old one.


Page: 1

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