GoofyPancake

Does filing ITR with New Regime lock me to use New Regime for next financial year and can't use Old Regime in following years

I plan to buy a flat on loan in financial year 24-25.

If I file my ITR of 23-24 financial year, I'm getting less taxed if I use New Regime. But if I file my ITR with New Regime, would I be locked in to use New Regime for next financial years going forward ?

As I wish to buy a flat on loan, I would prefer old regime going forward.

5mo ago

1.5Kviews

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CosmicPotato

Stealth5mo

Salaried individuals (ITR 1 & 2) are free to switch between old & new regime every year.

SnoozyMuffin

Student5mo

And freelancers?

CosmicPotato

Stealth5mo

Itr 1 or 2 not applicable for freelancer. They can switch only once in a lifetime.

JazzyBoba

Zomato5mo

SillyBiscuit

Pharmeasy5mo

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by ZestyQuokkaStealth

Should I opt for New regime? I live in Gurgaon (non metro in taxable slab)

Personal Finance8mo

by PeppyMochiTransunion

Can we change tax regime during filing ITR?

Need advices from folks who have done or know about the tax regime.

I have selected Old Tax Regime in my tax planning initially at workplace but during filing ITR i am thinking to switch to New Tax Regime.

Is that possible?

Personal Finance14mo

by QuirkyJellybeanStealth

New to old tax scheme?

Hey folks, I opted for the new tax regime when my CTC hardly touched the tax bracket. Now I earn 22LPA and my heart almost collapes after seeing the tax paid. 2 ques: -Is it possible to move to the old scheme to save taxes?

Given my...

Top comment

I don't know exactly how you are planning to save taxes in the old regime, but yes you can move to old regime at the ...

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