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

[Jignesh Desai]

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 ?

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

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