Tax regime switch for Trading Income

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 :slight_smile:

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 ?

Hi @Jitendra_Kumar

If your business income ceases to exist in the future years, then you have an option to switch back again to the new tax regime as per your convenience every year.

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