Can we change the tax regime every year?

Salaried Individuals have more flexibility when it comes to changing tax regimes every year as compared to professionals.

A salaried person can choose between the new and old tax regimes every financial year while filing ITR, irrespective of the regime selected for TDS. So even if a new regime is selected for TDS, they can still file ITR under the old regime if it is more beneficial.

However, the option to change regimes is limited for self-empoyed individuals. They can switch from an old to a new regime anytime but can return to the old regime only once in a lifetime. Form 10-IE needs to be filed along with the ITR to make this switch.

Also, for self-employed individuals, the change has to be made before the ITR filing deadline. They cannot change regimes during the year if Form 10-IE has not been filed earlier.