Switching to Form 2 from Form3
This query is : Resolved
16 August 2024
Sir,
A practitioner retired in FY 23-24 and has submitted the return in Form 3 for AY 25-25.
Now the income in the current FY mainly consists of FD interest, Survival Benefit and
from investment in Mutual Fund.
A. Is there any formality to be complied with for switching to Form 2 from AY 25-26?
B. Is the New Tax Regime more beneficial for Senior Citizen, 80 plus?
Kindly advise!
Thanks & Regards
A practitioner retired in FY 23-24 and has submitted the return in Form 3 for AY 25-25.
Now the income in the current FY mainly consists of FD interest, Survival Benefit and
from investment in Mutual Fund.
A. Is there any formality to be complied with for switching to Form 2 from AY 25-26?
B. Is the New Tax Regime more beneficial for Senior Citizen, 80 plus?
Kindly advise!
Thanks & Regards
16 August 2024
1. No.
2. Not based on age profile, but on amount of deduction claims.
2. Not based on age profile, but on amount of deduction claims.
16 August 2024
Thank You Sir!
Yes it's not based on age profile.
In fact query was intended to ascertain the impact with reference to certain benefits available to assesses with age profile of 80 plus.
Thanks & Regards
Yes it's not based on age profile.
In fact query was intended to ascertain the impact with reference to certain benefits available to assesses with age profile of 80 plus.
Thanks & Regards
16 August 2024
No difference of any benefit to super senior citizens in New Tax regime,
16 August 2024
O.k. Sir!
Thanks & Regards
Thanks & Regards
16 August 2024
Good Luck.
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