WebIt is important to note that salaried individuals can choose between the old tax regime and the new tax regime every financial year starting from 2024-21 onwards. That means, they can switch between the old tax regime and the new tax regime every financial year by choosing the relevant ITR form notified by the Income-tax Department. WebFeb 2, 2024 · Effective from FY 2024-21, taxpayers can choose between two income tax regimes - existing/old tax regime and the new tax regime. By opting for the old tax regime, the taxpayer can continue to avail existing deductions such as section 80C, section 80D etc. of the Income-tax Act, 1961 and tax exemptions like house rent allowance, LTC Cash …

Can you change tax regime while filing Income Tax Return (ITR)?

Web4) If you can avail 80C deduction and also have a home loan consider the old tax regime. This is because the old tax regime allows you a tax deduction on principal amount upto … WebApr 14, 2024 · Effectively, you can switch between new and old tax regime at the time of filing ITR. As an employee, if you do not make any such intimation, the employer shall … telkomsel poin

Old vs new tax regime: The better option for senior citizens

WebFeb 2, 2024 · Yes, an individual can switch between the new tax regime and the old tax regime in every financial year. However, the facility to switch between the new and old tax regimes is available only for those individuals having salaried income and does not have … WebZambia, DStv 1.6K views, 45 likes, 3 loves, 44 comments, 1 shares, Facebook Watch Videos from Diamond TV Zambia: ZAMBIA TO START EXPORTING FERTLIZER... WebFeb 7, 2024 · Some taxpayers can keep switching between the new and the old tax regime introduced in the Union Budget. This allows some taxpayers to compare the two regime... rac45rv