Rule 136 requires the options and withdrawals under sections 199(3), 200(5), 201(2), 202(4), 203(5) and 204(2) to be made in the return of income for the tax year, by the person listed against each section.
136
Rules 2026 · Rule 136
Exercise or withdrawal of option for new tax regime
Rules 131-200
The rule. The option to be exercised or withdrawn under the provisions in column B of the Table, by the person in column C, for any tax year, is made in the return of income furnished under section 263(1) for that year.