An Person individual having business income can opt to pay tax as per the new tax slab structure if
To claim benefit of proposed tax rates, option is exercised, on or before the due date of return of income u/s 139(1).
Option once exercised can be withdrawn only once.
In case of assessee ceases to have business income, option can be exercised again.
In case of Business income, the option once exercised for a previous year shall by default be valid for that financial year and all subsequent years as well.