Can you choose between existing income tax regime and new optional regime every year
- Press Release|
- < 1 minute
- By Taxmann
- Last Updated on 28 October, 2020
Naveen Wadhwa, Deputy General Manager at Taxmann.com, said: “In every financial year, an individual has an option to choose either income tax regime with tax exemptions and deductions or new proposed tax regime with lower tax rates and forgo the existing tax exemptions and deductions. However, there are certain conditions that an individual must satisfy if they are opting for the new tax regime. An individual can opt for the new tax regime if they do not have any business income.
Read more at Economic Times: Can you choose between existing income
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