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  1. economictimes.indiatimes.com › wealth › taxNew tax regime to old tax regime: How to choose old income ...

    5 days ago · The notified ITR forms asks the individual "Do you wish to exercise the option u/s 115BAC(6) of opting out of new tax regime? (default is No)". The income tax return form will determine the amount of income tax due based on the new tax regime's slabs if the option "No" is chosen.

  2. economictimes.indiatimes.com › wealth › taxHow to switch from new tax regime to old tax regime - The ...

    Feb 7, 2024 · The notified ITR forms asks the individual "Do you wish to exercise the option u/s 115BAC (6) of opting out of new tax regime? (default is No)". If the option "No" is selected, the income tax return form will calculate the amount of income tax payable as per the slabs of the new tax regime.

  3. taxguru.in › income-tax › section-115bac6-opting-outSection 115BAC(6) – Opting out from New Tax Regime - Tax Guru

    Jun 5, 2024 · Understand Section 115BAC(6) and opting out from the New Tax Regime (NTR). Learn about exercising options, withdrawal, and eligibility criteria.

  4. www.livemint.com › money › personal-financeIncome Tax: Want to opt out of the new tax regime? Here is a ...

    May 7, 2024 · Taxpayers have to file form 10-IEA which is an application for exercise of option under section 115BAC (6), i.e., for opting out of new tax regime. The form to opt out of new tax regime...

  5. taxguru.in › income-tax › section-115bac-new-taxSection 115BAC: New Tax Regime – Analysis ... - Tax Guru

    Apr 15, 2024 · a) New Regime (Section 115BAC) is Default Tax Regime and Old Regime is optional. b) If a taxpayer (having income from business or profession) has to opt for Old Regime, then Form 10-IEA has to filed within the due date specified u/s. 139 (1) of the Act.

  6. www.financialexpress.com › money › itr-filing-for-fyITR Filing for FY2023-24: Eligibility and Procedure for ...

    4 days ago · A person deriving income from business or profession who has exercised the option of opting out of the prevalent new tax regime u/s 115BAC could exercise the option of opting back to the said new ...

  7. cleartax.in › s › section-115bac-features-new-taxSection 115BAC of Income Tax Act: New Tax Regime Deductions ...

    Jun 18, 2024 · Section 115BAC was further amended in the Budget 2023, and the new regime was made the default regime from FY 2023-24. If an individual or HUF wants to opt for the old tax regime, then he must file Form 10-IEA before the due date of filing ITR.