I have earned interest from partnership firm under income from business and profession. I had opted for new tax regime last year. Do I have the option to switch between new and old tax regime every year?
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 28 February 2023
Though not clarified anywhere, but I think you should be eligible to switch between both regimes.
Tanvi Sharda
(51 Points)
Replied 28 February 2023
Now onwards new tax regime will be default tax regime. But there is option to select old tax regime. person having salary income can switch from old to new or vice versa every year. However assessee having business income can switch only once.
Assessee having business or profession income, after opting for regular tax regime will have an option to move out only once.
Assessee having business or profession income, after opting for regular tax regime will have an option to move out only once.
anonymous
(proprietor)
(248 Points)
Replied 01 March 2023
So is it that I have only one option to move from new regime to old regime.
sabyasachi mukherjee
(27574 Points)
Replied 02 March 2023
Not advisable however what is your income .
rather gti
rather gti
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