The CBDT states that the employee can change the option of Income Tax return and the amount of TDS payment will be adjusted accordingly in the CBDT prescribed Form 10-IE given below the Option Form 10-IEis given below.
The Central Board of Direct Taxes, however, said that the employee can change the Income Tax return and the amount of TDS payment will be adjusted accordingly.
Whether TDS should be deducted under the new option or whether TDS should be deducted under the old regime, there is no clarity about the employers, as there is no appropriate change in the TDS provisions to enable deduction of TDS under any new option.
This notification will eliminate confusion among employers and ensure that employees have minimal discrepancies in TDS and ITR (income
Conclusion, it is clearly said that an employee (not just earning from business or occupation) can change the option once used for the purpose of deducting TDS but always change it when filing a