202. New tax regime for individuals, Hindu undivided family and others.

(i) Schedule III (Table: Sl. No. 5 or 6 or 7 or 8 or 11 or 17);

(ii) Schedule III (Table: Sl. No. 12 or 13) (other than those as may be prescribed for this purpose);

(iii) ²⁵[***]

(iv) section 19(1) (Table: Sl. No. 1);

(v) section 22(1)(b), in respect of properties referred to in section 21(6);

(vi) section 33(8);

(vii) section 48;

(viii) section 49;

(ix) section 45(3)(a) or (b) or (c);

(x) section 46;

(xi) section 47(1)(a); and

(xii) Chapter VIII other than the provisions of section 124(1) and 124(2), or 125(2) or 146; and

(i) any loss carried forward or depreciation from any earlier tax year, if such loss or depreciation is attributable to any of the deductions referred to in clause (a); or

(ii) any loss under the head "Income from house property" with any other head of income; and

(i) on or before the due date specified under section 263(1) for furnishing the returns of income for such tax year;

(ii) such option, once exercised, shall apply to subsequent tax years;

(iii) such option, once exercised, may be withdrawn only once for a tax year other than the tax year for which it was exercised; and

(iv) after such withdrawal, the person shall never be eligible to exercise the option under this sub-section, except where such person ceases to have any income from business or profession, and in such a case the option under clause (b) shall be available;