New Delhi, July 28 -- With the 31 July deadline for filing income tax returns approaching, salaried taxpayers still have the option to review their tax regime and choose between the old and new tax regimes.

Although the new tax regime is the default option, taxpayers can switch between the two regimes at the time of filing their return and calculate their final tax liability accordingly.

Here are the key rules every taxpayer should know.

Yes. Salaried taxpayers can choose a different tax regime while filing their ITR, even if their employer calculated TDS under another regime.

"The tax regime selected by the employer for TDS purposes is only for withholding tax. The taxpayer is free to choose the more beneficial regime while filing th...