AMA : Old Tax Regime v/s New Tax Regime

Hey @riya_gupta

An individual having salaried income and no business income has the option to choose between the old and new tax regimes every year i.e. he/she can switch regimes from year to year.

However, individuals having business income are not eligible to choose between the new and old tax regime every year. Once they have opted for the new tax regime, they only have a one-time option of switching back to the old tax regime in their lifetime.

Once they switch back, they will not be allowed to opt for new tax regime again.

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