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Home List Manuals Income Tax Income Tax - Frequently Asked Questions (FAQs)FAQ on New vs Old Regime [AY 2024-25] This

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Income Tax - Frequently Asked Questions (FAQs)

FAQ on New vs Old Regime [AY 2024-25]

I am having business income and have opted in and opted out from the new regime in the previous years. So, will I be in old regime for the AY 2024-25?

Contents

Ans. Please note that new tax regime is default regime for AY 2024-25. Any actions in any previous years with respect to choice of regimes will not be applicable from AY 2024-25. You are required to submit Form 10-IEA again in case you want to opt for the old regime.

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