The Finance Minister in the Union Budget 2020 has introduced a new tax regime for the Individual taxpayers in order to make it simple for small and middle-income group people. The new tax regime is optional for taxpayers, which means you can choose between the old tax regime and the new tax regime.
It may happen that while filing details of Income on myITreturn.com you may choose old regime, but in between you might want to change to new regime. A question would arise in your mind that how to now switch to new regime. myITreturn.com gives you 3 ways in which you could choose new regime.
Let us see all the three ways -
While you are logged in to myITreturn.com and preparing your, return, we will automatically ask you which regime you wish to opt for. However, if you wish to change in between, there is a dedicated page named "Regime Selection". You can browse it from Top Menu.
Choose New Regime / Old Regime as per your requirement. If you are un-sure, select the third option and let our system decide best suitable regime for you.