Скачать или смотреть How to switch from the new tax regime to the old one? | New tax regime | Old tax regime |Tax filing

Yes, it is possible to switch from the new tax regime to the old tax regime. However, certain conditions need to be met, and the process may differ for salaried employees and business owners/professionals.

Eligibility Criteria for Switching Tax Regimes:
1. Salaried Employees: Salaried individuals can switch tax regimes every financial year without any restrictions.

2. Business Owners/Professionals: Unlike salaried employees, business owners or professionals can switch tax regimes only once. Once they opt for a regime change, they cannot switch back again.

How to Change Tax Regime Online:
For Salaried Employees:
1. Open a valid Income Tax Return (ITR) form on the IT portal.
2. Navigate to the tax regime selection section and choose 'Yes' or 'No' for opting into the new tax regime.
3. Fill out the rest of the form and submit it.


For Business Owners/Professionals:
1. Open Form 10 IE on the IT portal.
2. Verify pre-filled details under the 'Assessing Officer' section.
3. Provide answers to questions in the basic information and additional information sections, including the option for regime change.
4. Verify and preview the form before submitting it. Remember to submit Form 10 IE by the deadline, usually by July 31st of the assessment year.

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