Employee having income from business or profession and who has exercised the option to use the Old Tax Regime shall apply the same to subsequent assessment years. An employee can opt to the New Tax Regime, but only once. The switching of regimes can be done by employees that do not have income from business or profession every year.
In other words, a person having income from business or profession who has exercised the option of shifting out of the regime provided under the sub-section (1A) of section 115BAC (New Tax Regime) shall be able to exercise the option of opting back to the regime under subsection (1A) of section 115BAC (New Tax Regime) only once. However, a person not having income from business or profession shall be able to exercise this option every year.