Switching between tax regimes
1 year ago
I have income from freelancing websites like Upwork etc and I am also a salaried employee of a private IT company in India. I need to know if I can switch between New and Old Tax regime every year or as many times as I want? Someone told me that I can switch only once as I have business income but I am also a salaried person and Salaried professionals can switch between regimes every year i guess??
A.Dear client as per Section 115BAC of Income Tax Act a salaried taxpayer can opt in and opt out every year. That means you can choose the new tax regime in one year and choose the regular tax regime in another year.
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Anonymous
Replied 1 year ago
I can switch tax regimes Even if I have freelance income as well??
Anonymous
Replied 1 year ago
As my CA says, I cant switch between regimes
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