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<h1>Option for new tax regime must be exercised or withdrawn in the income tax return, tied to specified taxpayer categories.</h1> The rule requires that the option to adopt or withdraw the new tax regime be indicated in the taxpayer's return of income for the relevant tax year; a Table identifies specific classes of persons (various corporate forms, individuals, HUFs, associations of persons, bodies of individuals, artificial juridical persons, and cooperative societies) to which this filing requirement applies.