PARADEEP CIRCULAR
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Title
Declaration of Old Income Tax Regime for the F.Y.- 2024-2025
Contents
We have received the following message from H.O. " As per Finance Act 2023, CBDT had mandated that rates and accompanying conditions provided in sub-section (1A) of section 115BAC of the Act shall be applicable as “Default” for determining the tax liability of any individual. Also, CBDT had directed that employer being deductor shall seek information from each employee regarding their intended Tax Regime in the beginning of Financial Year i.e. in the month of April. Therefore, it is desired from all the employees who wants to opt for existing Old Tax Regime may please intimate to their respective Unit or Place of Posting by 15th April, 2024. A screen has been provided in EIS where you can opt for Old Tax Regime by logging in. The employees who don’t opt for any option by 15.04.2024 will automatically be considered in New Tax Regime and Tax Liability will be calculated accordingly. NOTE: Tax Regime Once Opted, No change of option will be permissible during the rest of Financial Year. " With Best Regards, ----------------------------------- Dandadhar Nayak , Jt. General Manager (F&A) IFFCO Paradeep Unit , Phone No- 06722-224027
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