Calling of option for new personal taxation regime:

Calling of option for new personal taxation regime of reduced tax rates with no exemptions or deductions or setoff of loss etc. in case of individuals & HUFs as provided u/s 115 BAC of the IT Act, 1961 for AY 2022-23. Any Employee wants to opt for the new tax regime, for the FY 2021-22 (AY 2022-23 he/she is required to furnish his/her option/declaration by 25th April, 2021 to the concerned DDOs/AO(Pay/HCM/Cash).

Click here for the CO Circular

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