Dear Sir/Madam,
Can individual who have income from profession can avail taxes under new regime ?
Yes, such person can avail but once opted out, cannot avail again.
5 Replies
Asha Vaishnava
(Manager - Finance & Accounts)
(290 Points)
Replied 21 June 2021
Thank you, year to year thr regime can be changed right ? meaning if this year availed new regime and next year under old regime if that is benefiting
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 21 June 2021
No, in case of business/professional income, there is no option to opt for the regime every year unlike salary income. That is, if someone has no business/professional income but salary income, only such person has an option to choose new/old regime every year.
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 21 June 2021
In some cases individual who have income from profession can avail taxes under new regime
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