Hi @Aditya
It is mentioned in Part B of Form 16 as taxation u/s 115BAC just before the summary of your salary details. You can refer to the below screenshot.
Hope this help 
This really helped. Thanks for always resolving queries so quickly 
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Hi,
I want to stop my contribution (both employer and mine) to EPF, and I want my employer to contribute to NPS instead. Can I do that? And what tax benefits does it offer if my employer contributes to NPS user 80 CCD2?
PS: I am already contributing around 60k per annum under 80 CCD(1B).
So, is it recommended to stop contributing to EPF and do it in NPS instead?
Hello @Sharan,
No, you can not stop contributing to EPF.
EPF applicability criteria: Organizations having equal to or more than 20 employees need to mandatorily deduct EPF. Also if a salaried employee has Salary (Basic Salary + D.A.) more than 15,000 per month, in that case also it is mandatory to deduct EPF.
Therefore, EPF deduction is mandatory and EPF and NPS are not optional.
If your employer contributes to NPS, under section 80CCD (2), deduction is available upto 10% of Salary (Basic Salary + D.A.) and upto 14% of Salary in case of Government employee over and above deduction claimed under 80CCD (1B).
Hope this helps!
Thanks for the reply.
Can my employer stop contributing to EPF and instead do that in NPS to claim deduction under 80 CCD(2) ?
Or employer contribution is also mandatory?
Hi @Sharan,
No you can not do that, as your Employer’s contribution is also mandatory towards EPF.
Hope this helps!
For FY20-21 I had professional income along with STCG on equities, I filed my ITR opting for the new tax regime.
Now for the FY21-22 and upcoming years, I won’t be having any professional income. I will have salary income and capital gains going ahead.
So can I switch between the new & old regime as beneficial to me?
If I can switch every year, do I need to file form 10ie every time the switch is made?
Hello @pranjalbarola,
Individuals having business income or professional income are not eligible to choose between the new and old tax regime every year.
As per Section 115BAC of Income tax Act 1962, individuals with income under business and profession have an option to opt in in New regime only once in lifetime therefore if you opt out from New regime you will not have option to opt in again. Since in previous year 2020-21, you had already opted for new regime and declared professional income as well, you have an option to switch back to old regime only once thereafter you won’t be able to file ITR under new regime.
You have to file Form 10IE every time you opt in or opt out of New Regime.
Hope this helps!
Attaching our article link for your reference!
As I understand, Individuals with business/professional income aren’t allowed to switch. But while I no longer have income from business or a professional, am I not eligible to switch just like every other salaried Individual?
Calculate your tax liability by adding your income details under our New vs Old regime tab in Tax Planning.
Here’s how you can do that
https://support.quicko.com/hc/en-us/articles/360058817111-Choose-between-the-Old-New-Tax-Regime
Read more about changes in the New Regime here
https://support.quicko.com/hc/en-us/articles/360060659632-Changes-as-per-New-Tax-Regime
Respond below with any query that you might have with our New vs Old Regime tool below 
While filling ITR-1, why does the quicko portal ask me to fill form 10-IE to opt in for the new tax regimen?
As far as I am aware, this form is to be filled for business/professional income for ITR-3.
How should i proceed to opt in for the new tax regime for ITR-1?
Hi @Tejasvi_Singh, you are right Form 10 IE isn’t required for filing ITR-1. When you file your ITR-1 with Quicko, you will not need your 10IE and based on your entered income situation, the product shall compute your taxes and choose a tax regime that is optimized for you. Excuse us for the delay in responding, which was caused due to the extreme traffic around tax filing due date. Please get back, if you face any other issues, would love to help.
Hi @Himanshu
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Yes, you can opt for the new tax regime while filing your ITR.
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Under the new regime, these deductions will not be allowed.
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No Himanshu, you will not face any issues.
Form 16 is only a breakup of your Salary and contains details of tax deducted as per your declaration. The taxable income, deductions, selection of taxation regime, etc., will only be determined at the time of filing your ITR.
Hope this helps.
Feel free to reach out if you have any further clarifications, will be happy to help. 
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in which section i can claim my trading charges? i heard 10k is limit
Hi @VINEETH_KUMAR, if you want to claim trading charges as expenses under business income you can claim the same under section 37. And, if you want to claim trading charges as expenses under capital gains, then you will have to claim the expenses under section 48.
Which tax regime is best for someone with a yearly salary under Rs 5 Lakhs?
Hey @Shweta_Saini
There will be no Tax Liability if your income from salary is under 5 lakhs under any tax regime. Thus, you can opt for either of the tax regime.
You can compare the tax liability under both regime from the Income Tax Calculator
I have been using old tax regime but want to switch to new tax regime as after comparing new tax regime gives more benefit.
I have income from intraday trading as well.
So if I switch to new regime this year,can I switch back to old regime and later to other regime?
Asked this question because I have read that if you have business income,you can switch only once in lifetime.
Also income from options and future also business income?
Hi @Jitendra_Kumar,
Taxpayers having business income can switch back to the old regime only once.
Yes, F&O trading is treated as non-speculative business income as per the income tax.
Here’s an article to help you understand better the Old & New Tax Regime and Income tax on F&O trading.
Hope this helps
Hey thank you for the reply
So if I switch to new regime with business income and if from next year I don’t have any business income will I be able to do switches then ?