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OLD REGIME STATEMENT OF INCOME TAX FOR THE FINANCIAL YEAR 20202021 (A. Y 20212022) Name, Designation and Employee Code 1Date of Birth Contact Phone No.(Cell/Landline)2Permanent Account Number (PAN)

How to fill out old regime

How to fill out old regime

1. Obtain the old regime form from the relevant authority or department.
2. Read the instructions carefully to understand the requirements and the information to be filled.
3. Gather all the necessary documents and information required to complete the form.
4. Start by filling out the personal information section, including name, address, date of birth, and contact details.
5. Move on to the specific sections of the form, such as income details, employment history, or any other relevant information according to the purpose of the old regime.
6. Double-check the form to ensure all fields are filled accurately and no information is missing.
7. Attach any supporting documents or proofs required along with the form.
8. Review the form once again to verify all the information provided.
9. Submit the filled-out old regime form to the authorized department or authority either in person or through mail as per the given instructions.
10. Keep a copy of the filled-out form and any supporting documents for your records.

Who needs old regime?

1. Individuals who fall under the old regime category and want to maintain their existing system or process.
2. Businesses or organizations that have been operating under the old regime and wish to continue doing so.
3. People who are eligible for certain benefits or privileges only available under the old regime.
4. Individuals or entities who have not transitioned or are not ready to transition to a new regime.
5. Those who want to take advantage of any tax exemptions or incentives provided under the old regime.
6. People who believe that the old regime better suits their specific needs or circumstances.

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What is old regime?

The old regime refers to the tax system that was in effect prior to the implementation of the new tax regime, characterized by certain deductions and exemptions.

Who is required to file old regime?

Individuals and entities that prefer to claim various deductions and exemptions available under the tax laws are required to file under the old regime.

How to fill out old regime?

To fill out the old regime, taxpayers need to complete the relevant tax forms, report income, claim deductions, and calculate tax liability according to the previous tax rules.

What is the purpose of old regime?

The purpose of the old regime is to allow taxpayers to benefit from a variety of deductions and exemptions that can reduce their overall taxable income.

What information must be reported on old regime?

Taxpayers must report their income, deductions, exemptions, and any other relevant financial information while filing under the old regime.