Section 136: Exercise or withdrawal of option for new tax regime
Exercise or withdrawal of option for new tax regime.
136. The option to be exercised or withdrawn under the provisions specified in column B of the following Table, by a person specified in column C thereof, for any tax year shall be in the return of income to be furnished under section 263(1) for such tax year.
TABLE
Sl. No. Person
A C
1. Manufacturing domestic company.
2. Domestic company.
3. New manufacturing domestic company.
4. Individual or Hindu undivided family, or an association of persons (other than a co-operative society) or a body of individuals, whether incorporated or not, or an artificial juridical person.
5. Resident co-operative society.
6. New manufacturing co-operative society.
Source: official text of Income-tax Rules, 2026 as published on India Code (PDF). All sections of Income-tax Rules, 2026.